Government Open to Additional Safeguards for Deep Tech RDI Fund
· India · Indian Express
Science and Technology Minister Jitendra Singh stated on Wednesday that the government is open to considering additional safeguards for the Research, Development and Innovation Fund. The review follows an investigative report revealing that 15 of 22 private companies selected in the first funding round had investment ties to seven members of the selection panel. Although the panel members declared their interests and recused themselves from evaluating companies they held stakes in, the situation highlighted the need for stronger procedural safeguards. The RDI Fund was established last year to provide low-cost, long-period loans to private firms in priority areas such as quantum computing, space, and biotechnology. Selected companies can receive up to 50 percent of their project costs, with loans worth Rs 2,192 crore approved for 22 companies in the first round.
Why it matters
The review directly affects private firms seeking government funding for cutting-edge research and determines whether future disbursement processes will face stricter conflict-of-interest rules.
Read the original report — Indian Express
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