PM rolls out ₹1 trn RDI fund for 'high-impact projects'

‘They include alternate investmentfunds(AIFs), development financeinstitutions (DFIs),non-banking financial companies (NBFCs), and focused research organisations (FROs)suchasthe Technology Development Board (TDB), Biotechnology Industry Research Assistance Council (BIRAC), and IT Research Parks.

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Financing under the RDI fund willtake the form oflong-term, low-interest — or in some cases, interest-free — loans, equity infusion (especially for startups), and allocations to the deeptech fund of funds. The scheme doesn’t support grants and short-term loans.

Priority areas include energy security and transition, quantum computing, robotics, space technology, biotechnology, and artificial intelligence (AI).

‘The global orderis witnessing a fundamental shift, and the pace of change is not liner but exponential, the prime minister said in his address. “For the first time, capital is being allocated specifically for high-risk, high-impact projects, ensuring support for ground-breakingendeavours.”