India's Research, Development and Innovation Fund (RDIF) has approved 19 second-level fund managers with a total commitment of Rs 7,131 crore, the Ministry of Science and Technology announced. This approval came during the Empowered Group of Secretaries meeting on October 8 and marks a major step in mobilising private investment in research and emerging technologies.
The approved cohort includes 14 Alternative Investment Funds and five Focused Research Organisations under the Rs 1 lakh crore RDIF initiative launched in November 2025. These fund managers will deploy RDIF capital to technology enterprises engaged in research and innovation activities at Technology Readiness Level 4 and above. They are also tasked with mobilising private capital matching the RDIF contribution, potentially doubling the available funding for technology development.
The RDIF scheme aims to bridge financing gaps that have limited private-sector investment in high-risk, high-impact research projects, particularly in emerging and strategic technologies. Managed by an Independent Business Unit within the Anusandhan National Research Foundation under the Department of Science and Technology, the initiative seeks to strengthen India's innovation ecosystem by providing long-term capital support.
The Rs 1 lakh crore RDIF initiative represents one of the largest government-backed efforts to boost research and development in India. The next phase will focus on monitoring fund deployment and the impact on technology enterprises, as detailed in the Ministry of Science and Technology's press release dated October 12.