RDIF approves 19 fund managers with Rs 7,131 crore commitment to boost India's R&D ecosystem
The government's Research, Development and Innovation Fund (RDIF) has approved its first cohort of 19 second-level fund managers with a total commitment of Rs 7,131 crore, marking a key step towards mobilising private investment in research and development and emerging technologies.
The Research, Development and Innovation Fund (RDIF) has officially approved 19 second-level fund managers, committing a total of Rs 7,131 crore to bolster India's research and development (R&D) ecosystem. This milestone was reached during a meeting of the Empowered Group of Secretaries (EGoS) on October 8, as reported by the Ministry of Science and Technology.
Among the approved managers are 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs). These fund managers will direct RDIF capital towards technology enterprises engaged in research, development, and innovation activities at Technology Readiness Level (TRL) 4 or higher. Additionally, they are anticipated to attract private capital matching the RDIF contribution, thereby expanding the overall funding for technology development.
Established in November 2025, the Rs 1 lakh crore RDIF scheme is designed to bolster India's research and innovation ecosystem by providing substantial capital for high-risk, high-impact R&D projects. The initiative aims to tackle financing limitations that have previously hindered private-sector investment in emerging and strategic technologies.
The RDIF is overseen by an Independent Business Unit within the Anusandhan National Research Foundation (ANRF), which operates under the Department of Science and Technology. The initial call for applications from prospective second-level fund managers was released in January 2026, followed by a rigorous evaluation process involving objective assessments and consultations with an Expert Advisory Committee. The evaluated applications were then considered by the ANRF Executive Council and the EGoS.
Furthermore, the EGoS has extended the RDIF's coverage to include five new technologies, broadening the fund's scope. The government's objective is to decrease reliance on imported technologies, enhance technological self-reliance, and foster the creation of globally competitive products. The scheme also endeavors to stimulate private-sector-led R&D through collaborations between public and private capital entities.
Following the approval of the first cohort, the RDIF will persist in accepting applications and integrating more groups of fund managers in the ensuing months, as indicated in the official release. This expansion is expected to broaden the fund's reach and facilitate additional investments in India's research, development, and innovation ecosystem.
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