New Delhi, Oct. 13 -- India has approved 19 fund managers under its Rs.1 lakh crore Research, Development and Innovation (RDI) Scheme, committing Rs.7,131 crore to strengthen research-driven technology development and attract private investment into high-risk innovation.

The decision, approved by the Empowered Group of Secretaries (EGoS) on October 8 and announced by the Ministry of Science and Technology on October 12, 2026, marks a significant step in implementing the government's RDI funding initiative.

The first cohort includes 14 Alternative Investment Funds (AIFs) and five Focused Research Organisations (FROs). These institutions will channel capital to eligible technology enterprises developing technologies that have progressed b...