{
  "id": 15585756,
  "title": "RDI fund to spur 10-fold investment from private sector, says NITI's Abhay Karandikar",
  "url": "https://urgent.news/2026/10/19/rdi-fund-to-spur-10-fold-investment-from-private-sector-says-nitis",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T08:43:06.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/finance/rdi-fund-to-spur-10-fold-investment-from-private-sector-says-nitis-abhay-karandikar/articleshow/135044346.cms"
  },
  "original_language": "en",
  "account": "Delhi, India - The Research, Development and Innovation scheme, backed by a Rs 1 lakh crore fund over a decade, aims to surge private sector investment by tenfold, generating fresh job prospects, according to NITI Aayog member Abhay Karandikar. Once fully operational, Karandikar envisions this initiative as a catalyst for private industry to pump in 10 times more investment, while simultaneously nurturing at least ten globally competitive homegrown companies. Launched last year, this Rs 1-lakh crore RDI Fund, earmarked for innovation in the deep tech sector, is being implemented by the Department of Science and Technology under the Anusandhan National Research Foundation. The government's ambitious Atmanirbhar (self-reliant) initiative underscores its commitment to becoming self-reliant in crucial technologies, such as artificial intelligence, biotechnology, digital economy, energy security, quantum computing, space technologies, and advanced materials. The RDI scheme provides financing through long-term, zero-interest loans and equity infusions, covering up to 50% of project costs, matching private sector contributions. With the scheme's policies in place, the government and private sector are actively collaborating to boost R&D investments. Historically, India's private sector contributed 30% of R&D spending, while the government accounted for 70%. Presently, India's Gross Expenditure on Research and Development (GERD) stands at 0.8% of GDP, and the nation's Global Innovation Index ranking has improved from 81st place in 2015 to 38th place in 2026, out of 139 economies worldwide.",
  "summary": "The Research, Development and Innovation (RDI) scheme aims to significantly increase private sector investment in India. It is designed to catalyse nearly Rs 10-lakh crore in investment over the next ten years while creating new job opportunities. The focus will be on crucial technology areas like artificial intelligence, biotechnology, and space technologies. The scheme intends to support at…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}