R&D push gets green light: Cabinet approves Rs 1 lakh crore scheme to boost innovation

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.