New Delhi, July 1 -- With an aim to accelerate India's research and innovation capabilities, the Union Cabinet, chaired by Prime Minister Narendra Modi, today approved the Research Development and Innovation (RDI) Scheme with a funding corpus of Rs 1 lakh crore.
Addressing the media here post-Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw, emphasised the scheme's role in fostering long-term financing at low or no interest rates, thereby stimulating private sector investment in research and development (R&D).
The focus, he noted, is on overcoming the constraints currently faced by the private sector in driving technological advancements, especially in sunrise sectors and strategic areas such as deep-tech and emer...