The Union Cabinet approved a Research and Development fund for research and innovation in the private sector. The Research, Development and Innovation scheme with a corpus of Rs 1 lakh crore is intended to encourage the private sector to scale up research, development and innovation in sunrise domains and in other sectors whose indigenization is important for strategic reasons or for economic security or for Atmanirbharta or in public interest, according to government sources.
Within sunrise sectors, the scheme will focus on energy-security, climate-action, deep-tech, artificial intelligence, biotechnology and digital economy.
This corpus of rupees one lakh crore will be established as a fifty-year interest free loan
Scheme will focus on funding projects at higher Technology Readiness Levels (TRLs).
Further, it may also support acquisition of technologies which are critical or of high strategic importance.
A dedicated Deep-Tech Fund of Funds shall also be a part of this initiative. The Scheme shall be implemented by the Department of Science and Technology (DST).
The Research and Development fund was announced in the Budget 2025-26 with an aim to build an ecosystem of innovation and drive original research.
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