India’s Union Cabinet on 1 July approved a Research, Development and Innovation (RDI) Scheme with a corpus of ₹1 lakh crore, aiming to give private companies access to long-tenor loans or refinancing at low or zero interest rates. The initiative targets strategic and so-called sunrise domains, where the government wants faster commercialisation of advanced technologies. The scheme will be steered by the governing board of the Anusandhan National Research Foundation, chaired by the Prime Minister. A Special Purpose Fund within ANRF will allocate money to second-level fund managers, which can extend concessional loans, take equity stakes—particularly in start-ups—or contribute to a planned Deep-Tech Fund of Funds. The Department of Science and Technology will serve as the nodal ministry. Officials said the programme is designed to close financing gaps that hold back private-sector R&D, raise technology-readiness levels and strengthen India’s competitiveness as it pursues its ‘Viksit Bharat 2047’ development goals.