The Research, Development, and Innovation (RDI) Fund, launched by Prime Minister Narendra Modi on November 3, aims to support domestic innovators and accelerate private sector involvement in research and development. Minister of State for the Department of Science & Technology, Jitendra Singh, described the fund as a unique initiative that encourages private sector engagement, with a total outlay of ₹1 lakh crore (approximately $12 billion USD) over six years. The fund is designed to catalyze research in deep tech and sunrise sectors, aligning with India's goal of becoming a developed nation by 2047. It mandates financing of up to 50% of assessed project costs for transformative projects at Technology Readiness Levels (TRLs) 4 and above. As of now, more than 200 proposals are under evaluation, with outreach programs conducted in major cities like Mumbai, Delhi, Bengaluru, and Chandigarh to promote the scheme.