PM Modi launches ₹1 lakh crore fund to boost private R&D
Prime Minister Narendra Modi has launched ₹1 lakh crore Research Development and Innovation (RDI) Fund to boost private investment in the sector. Set to work through a two-tiered structure, the fund will channel capital to second-level fund managers. It will support long-term, low-interest loans to corporates or equity contributions in start-ups that focus on energy, AI, biotechnology, etc.