New Delhi, Feb. 4 -- The central government has opened applications for a Rs 1 lakh crore Research, Development & Innovation fund that drew 160 private sector proposals in its first call, with Minister of State for Science and Technology Jitendra Singh announcing streamlined approval timelines and zero collateral requirements to accelerate technology development.
The Minister noted that the opening of strategic areas such as space and nuclear sectors for private participation has changed long-standing conventions, and the RDI Fund has been designed to support this transition by reducing financial risk while ensuring accountability.
He said the fund provides long-term, affordable financing and includes equity-linked options to share risk, ...