New Delhi, July 23: The Central Government’s Technology Development Board (TDB) has approved 22 projects with a total cost of ₹4,744 crore under the Research, Development, and Innovation (RDI) Fund. An RDI Fund assistance of ₹2,192 crore has been sanctioned for these projects, as announced in Parliament on Thursday.
Union Minister of State for Science and Technology, Dr. Jitendra Singh, informed the Rajya Sabha that the Biotechnology Industry Research Assistance Council (BIRAC) has shortlisted eight additional projects for RDI Fund support, amounting to ₹390.35 crore.
According to the Ministry of Science and Technology, both TDB and BIRAC have been approved as Second Level Fund Managers (SLFM) under the focused research organization category of the RDI Fund. So far, both SLFMs have been sanctioned ₹1,000 crore each, which is available for investment in eligible technology institutions and companies.
In July 2025, the Central Cabinet approved a ₹1 lakh crore RDI Fund, with its formal launch taking place in November 2025. Applications were invited for the selection of SLFMs, resulting in 162 applications from Alternative Investment Funds (AIF) and 38 from Focused Research Organizations (FRO).
The minister stated that the application process is ongoing and is under consideration by the competent authority. A proposed commitment of approximately ₹8,000 crore is expected from various AIFs and FROs.
The RDI Fund aims to promote energy security and transition, address climate change, and advance deep technology, quantum computing, robotics, space technology, and artificial intelligence (AI) in agriculture, health, and education.
Additionally, Dr. Singh reported that private investment in the space sector has reached $187 million in 2026, with 105 authorizations issued to non-government entities (NGEs) as of July 14. He noted that private investment has increased nearly sixfold in recent years, rising from $100.5 million in 2021-22 to $348.5 million in 2023-24, and projected to reach $618.5 million by March 31, 2026.
Dr. Singh emphasized that each application for private space activities is evaluated according to the standards set by IN-SPACe, ensuring that strategic, security, and national interests are fully considered before project approval.
In light of the growing participation of the private sector, IN-SPACe is developing separate safety and security guidelines for space activities in India, in collaboration with all stakeholders, to strengthen regulatory frameworks.
According to the government, a comprehensive policy, regulatory, and financial framework has been established to accelerate the private space industry. So far, IN-SPACe has authorized 17 space startups for space activities, fostering a robust startup ecosystem in the country.
Dr. Singh further stated that reforms over the past six years have transformed India’s private space sector. From just one space startup in 2014, the number has now exceeded 400.
Indian private companies have successfully demonstrated rocket launches and orbital capabilities, placing over 30 satellites into orbit and conducting around 45 payloads through platforms like the PSLV Orbital Experimental Module (POEM), enhancing both the technical capacity and commercial maturity of India’s private space sector.
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