RDI Fund Scheme aims to increase pvt sector participation: Dr Singh

Union Minister for Science & Technology Dr. Jitendra Singh on Saturday said that quantum and Artificial Intelligence (AI) sovereignty, along with indigenous ecosystems will define India’s next-generation growth. Addressing a programme organised by the Technology Development Board (TDB) in New Delhi, Dr Singh highlighted that India is moving towards a new phase of innovation-driven growth through coordinated initiatives in quantum technologies, deep-tech financing and industry-led research ecosystems.
Highlighting the importance of the RDI initiative, Dr. Singh said that the Government, under the leadership of Prime Minister Narendra Modi, has adopted several out-of-the-box approaches to strengthen India’s innovation ecosystem and create enabling conditions for private investment in research and development. He noted that, unlike conventional models where governments expect industry participation independently, India has adopted a proactive approach by creating institutional and financial support mechanisms for private-sector-led innovation.
During the programme, agreements for five projects under the RDI Fund Scheme were signed, the first electronic fund disbursement under the scheme was released, a compendium on the status report of the RDI Scheme was launched and a report on “Quantum-Safe Ecosystem in India” was formally released. The event was attended by Principal Scientific Adviser to the Government of India, Prof. Ajay Kumar Sood; Secretary, Department of Science & Technology and Chairperson, TDB, Prof. Abhay Karandikar; Secretary, TDB, Rajesh Kumar Pathak; senior officials, members of the TDB Board, investment committee members and representatives from industry, Startups and research institutions.