New Delhi, Nov. 3 -- Prime Minister Narendra Modi on Monday launched the Rs 1 lakh crore Research Development and Innovation (RDI) Scheme Fund, which was initially announced in the interim Budget of 2024-25.

The corpus will provide long-term financing or refinancing with long tenors and low or nil interest rates, Finance Minister Nirmala Sitharaman had said, presenting the 2024-25 interim Budget on February 1, 2024. This fund, she had said, will encourage the private sector to scale up research and innovation significantly in sunrise domains.

Today, PM Modi, while launching the research fund at the Emerging Science, Technology and Innovation Conclave 2025, asserted that when science meets scale, when innovation becomes inclusive, when t...