R&D push gets green light: Cabinet approves Rs 1 lakh crore scheme to boost innovation - Here's what you need to know

Cabinet Approves Rs 1 Lakh Crore Scheme To Spur Private Investments In Research

The Union Cabinet on Tuesday approved the Research Development and Innovation Scheme with a corpus of Rs one lakh crore to spur private sector investment in research.

R&D push gets green light: Cabinet approves Rs 1 lakh crore scheme to boost innovation - Here's what you need to know

The Union cabinet, under Prime Minister Modi, has approved the Research, Development and Innovation (RDI) Scheme with a Rs 1 lakh crore outlay. Aimed at bolstering India's private R&D ecosystem, the initiative provides long-term financing at low interest rates. It encourages private sector investment in sunrise and strategic sectors, fostering economic security, self-reliance, and global competitiveness.