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₹20,000 crore allocated to DST to kickstart ₹1 lakh crore research and development fund

Livemint

Livemint · 6m ago

₹20,000 crore allocated to DST to kickstart ₹1 lakh crore research and development fund

Union Finance Minister Nirmala Sitharaman allocated ₹20,000 crore to the Department of Science and Technology to kickstart a ₹1 lakh crore research and development fund. This aims to promote private sector-driven innovation, particularly in deep tech and sunrise sectors. The initiative addresses concerns over low private sector investment in R&D, despite government incentives. Budget allocations for various departments like Biotechnology and Space were increased to support this strategic autonomy in key technology sectors.

Related News

PM Modi: Launch of PARAM Rudra Supercomputers opens new opportunities for India

Livemint

Livemint · 11m ago

PM Modi: Launch of PARAM Rudra Supercomputers opens new opportunities for India

Prime Minister Narendra Modi has launched three PARAM Rudra supercomputers as part of India's National Supercomputing Mission. The advanced systems will support scientific research in areas such as weather forecasting, climate modeling, chemical discovery, materials science, and artificial intelligence. The supercomputers have been deployed in Pune, Delhi, and Kolkata and are aimed at enhancing India's computing infrastructure. Modi emphasized the importance of science and self-reliance and allocated ₹1 lakh crore to the research fund in this year's budget. The launch of these supercomputers represents a significant step in India's technological development.

Can Budget's R&D Push Transform India Into A Product Economy?

Inc42 · 1y ago

Can Budget's R&D Push Transform India Into A Product Economy?

In her Budget 2024 speech, the Finance Minister announced the operationalization of a INR 1 lakh R&D fund, a INR 1,000 crore venture capital fund, and funding support for agri-tech startups focused on research and development. The startup ecosystem stakeholders are hopeful that these measures will drive innovation in sectors like deep tech and space tech. However, an investor emphasized the need for quality professors, research infrastructure, and increased R&D spending to transform India into a product-led economy.

Union minister Piyush Goyal highlights Rs 3 lakh crore schemes for research, employment, and startups - The Economic Times

Economic Times

Economic Times · 1m ago

Union minister Piyush Goyal highlights Rs 3 lakh crore schemes for research, employment, and startups - The Economic Times

Union Minister of Commerce and Industry, Piyush Goyal, announced initiatives aimed at boosting research, innovation, employment, and startups in India, following a Rs 3 lakh crore scheme approved by the Union Cabinet. This includes a Rs 1 lakh crore scheme for research and development, and a Rs 2 lakh crore incentive for employment generation. Goyal highlighted Bengaluru's thriving tech ecosystem and praised efforts in the tech and global capability sectors, while addressing national security concerns.

Rs 1 lakh crore fund to boost private sector R&D: Jitendra Singh

Economic Times

Economic Times · 27d ago

Rs 1 lakh crore fund to boost private sector R&D: Jitendra Singh

Science and Technology Minister Jitendra Singh announced a Rs 1 lakh crore fund to enhance private sector R&D, aligning with India's sovereign technology goals. The initiative, part of the Research, Development, and Innovation Scheme, aims to provide long-term loans and risk capital for deep-tech and critical technologies. Managed by the Anusandhan National Research Foundation and implemented by the Department of Science and Technology, it calls for industry participation to harness government-provided opportunities for technological advancement.

Semiconductor Major NXP To Invest $1 Bn In India To Expand R&D

Inc42 · 11m ago

Semiconductor Major NXP To Invest $1 Bn In India To Expand R&D

NXP CEO, Kurt Sievers, has stated that the planned capital infusion will be used to enhance the company's research and development initiatives. Sievers also revealed that NXP is in discussions with Indian automotive and other sector companies to expand its partner network. This announcement coincides with Indian Prime Minister Narendra Modi's announcement of a special reserve fund of INR 1 lakh crore to promote innovation in the semiconductor industry.

Equity fund inflows fall 16% to Rs 18,917 crore in April, SIP book tops Rs 20,000 crore for first time

Money Control

Money Control · 1y ago

Equity fund inflows fall 16% to Rs 18,917 crore in April, SIP book tops Rs 20,000 crore for first time

Equity mutual fund inflows in India dipped by 16% to Rs 18,917.08 crore in April, compared to the previous month. Large-cap funds experienced a decrease in investments, while small-cap funds showed an increase after a brief outflow in March. However, the systematic investment plans (SIPs) reached a record high of Rs 20,371 crore, surpassing the Rs 20,000 crore mark for the first time. Overall, the mutual fund industry rebounded strongly, with net inflows totaling Rs 2.39 lakh crore. Debt funds also experienced a recovery, with net investments of Rs 1.90 lakh crore.

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Economic Times

Economic Times · 2m ago

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Bank of India (BoI) plans to raise Rs 20,000 crore through infrastructure bonds in the current fiscal year to fund various infrastructure projects. This decision has been approved by the board as part of efforts to join other banks like SBI in raising funds dedicated to infrastructure development. Infrastructure bonds are preferred due to their exemption from regulatory reserve requirements, unlike AT-1 and Tier-2 bonds, making them a more attractive funding option.

India needs more telecom unicorns, says DoT secretary Neeraj Mittal - The Economic Times

Economic Times

Economic Times · 1m ago

India needs more telecom unicorns, says DoT secretary Neeraj Mittal - The Economic Times

The Union Cabinet's approval of a ₹1 lakh crore research, development, and innovation (RDI) scheme aims to boost telecom startups in India, according to Neeraj Mittal, Secretary of the Department of Telecommunications. This initiative seeks to enhance research and innovation in sectors critical to India's strategic interests. Mittal emphasized the need for telecom unicorns and highlighted the significance of deep tech for economic growth, while Reliance Jio's Satish Jamadagni called for domestic chip production for export viability.

Sova Health, C3 Med-Tech, Clapingo secure early-stage funding

VCCircle

VCCircle · 1y ago

Sova Health, C3 Med-Tech, Clapingo secure early-stage funding

Healthcare startups Sova Health and C3 Med-Tech, along with edtech startup Clapingo, have raised early-stage funding. Sova Health raised $1 million in a seed funding round, led by investors such as Antler, Accelerating Asia, and VC Grid. The startup aims to expand its presence and develop its products. C3 Med-Tech secured Rs 2 crore in funding and plans to use it for global expansion and research and development. Clapingo, an English tutoring platform, raised an undisclosed amount, which will be allocated for product development and marketing efforts. The company aims for significant revenue growth in the coming years.

Cabinet approves employment-linked incentive (ELI) and research development and innovation (RDI) schemes

Economic Times

Economic Times · 1m ago

Cabinet approves employment-linked incentive (ELI) and research development and innovation (RDI) schemes

The Indian union cabinet has approved an Rs 99,446 crore Employment Linked Incentive (ELI) scheme focusing on formal job creation, aiming to generate over 35 million jobs in two years. Targeting the manufacturing sector, the scheme encourages first-time job seekers by offering incentives to both employees and employers. A Rs 1 lakh crore Research Development and Innovation (RDI) scheme was also sanctioned to promote private sector investment, alongside infrastructure upgrades and the new National Sports Policy, 2025.

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