India accelerates R&D with major deep-tech and pharma funding

India is advancing its research and development capabilities through significant government-backed funding initiatives. Under the ₹1 lakh crore Research, Development and Innovation (RDI) Fund, the first cohort of 22 projects has been selected for backing. This group includes 14 startups and 13 deep-tech projects focusing on areas such as reusable launch vehicles, quantum-secure communication, chip design, robotics, and next-generation batteries. The funding, managed through a Special Purpose Fund under the Anusandhan National Research Foundation, offers interest rates between 3% and 4% for up to 15 years, provided that intellectual property and control remain within India.

In the pharmaceutical and MedTech sectors, the Promotion of Research and Innovation in Pharma MedTech (PRIP) scheme has approved approximately ₹1,600 crore for 41 projects. This initiative is expected to catalyze an additional ₹3,020 crore in private investment. The approved projects cover novel drug discovery, clinical development, and medical technologies, involving both startups and large companies such as Biocon, Bharat Biotech, and Sun Pharma. The portfolio includes advancements in antibacterial treatments, regenerative therapies, and RNA-targeting antiviral technology.