New Delhi, Nov. 7 -- Finance minister Nirmala Sitharaman on Friday said the recently launched Rs.1 trillion research and development (R&D) fund is open to both government and private entities, urging the private sector to tap it to drive innovation.

"This fund is accessible not only to government institutions but also to private sector entities across the country to promote innovation and research," Sitharaman said in a statement released by the ministry of finance.

Prime Minister Narendra Modi recently launched the research, development, and innovation (RDI) fund, aimed at strengthening India's research ecosystem and fostering collaboration between government institutions and private industry.

The initiative marks a significant step i...