India Set for Bio-Driven Revolution, ₹1 Lakh Crore RDI Fund to Accelerate Deep-Tech Growth: Dr Jitendra Singh
New Delhi: Union Minister Dr Jitendra Singh has said that the next global revolution will be bio-driven, and India is well-positioned to lead it through strong deep-tech capabilities, rapid startup growth, and rising domestic institutional capital.
Speaking at an exclusive “FireChat” session hosted by IVCA, he described the recently announced ₹1 lakh crore Research, Development and Innovation (RDI) Fund as one of the Government’s most transformative initiatives. Designed for high-risk, high-reward technologies, the Fund aims to bring together government, industry, investors, and philanthropists to strengthen India’s innovation ecosystem.
India Now a First-Mover in Strategic Tech Reforms
Dr Singh noted that India is no longer a late adopter in new technologies.
He highlighted major reforms undertaken under Prime Minister Narendra Modi’s leadership, including:
- Dedicated biotechnology initiatives
- Opening of space and atomic energy sectors to private players
- Policy shifts encouraging deep-tech entrepreneurship
He said even the private sector was initially unprepared for the scale and speed of these reforms.
Deep-Tech to Drive the Next Decade
According to the Minister, the previous decade was shaped by digital innovation, but the coming years will be defined by:
- Space technologies
- Bio-manufacturing
- Green hydrogen
- Quantum tech
- Advanced materials
These fields require long-term, patient capital, and the RDI Fund aims to catalyse this transformation.
Tier-2 and Tier-3 Cities Leading the Startup Upsurge
Dr Singh highlighted the sharp rise in innovation from smaller cities:
- India now has 1.75–2 lakh startups,
- Nearly 60,000 originate from Tier-2 and Tier-3 regions.
He called the belief that innovation happens only in metros a “myth,” praising founders from small towns and government schools for their ambition and capability.
The Minister also shared examples of school students in remote districts who are well aware of national science programmes, reflecting how deeply science initiatives have reached grassroots India.
India’s Unique Strengths Beyond Deep-Tech
He noted India’s natural advantages in:
- Himalayan ecosystem
- Coastal and blue economy
- Agriculture
- Aroma and natural product industries
Thousands of rural startups have emerged from these sectors, supported by missions like the Aroma Mission, which has created successful rural entrepreneurs.
RDI Fund: A Cornerstone for Frontier R&D
Dr Singh described the RDI Fund as central to India’s next innovation leap. It will support research in:
- Artificial intelligence
- Semiconductors
- Clean energy
- Biotechnology
- Defence-tech
- Space-tech
- Advanced materials
He emphasised that the Fund will help India “invent in India, not just Make in India.”
Institutions like ANRF, IN-SPACe, and BIRAC will serve as interfaces to connect academia, industry, and investors for structured, high-impact collaborations.
Role of Capital, Philanthropy, and Institutional Investors
The Minister stressed that India's journey to becoming a Viksit Bharat by 2047 requires strong contributions from:
- Domestic institutional investors
- Corporate and philanthropic capital
- Alternate Investment Funds (AIFs)
India now has nearly 1,700 registered AIFs with commitments exceeding ₹15 lakh crore, signalling strong investor confidence.
He also noted that philanthropic funding—domestic and global—is increasingly flowing into science and innovation, supporting early-stage research.
Youth Returning to India for New Opportunities
Dr Singh highlighted a cultural shift: more young Indian professionals abroad are planning early returns, confident that India now offers world-class research and innovation opportunities.
He said India’s next growth phase will involve leapfrogging traditional development steps, opening new frontiers in deep-sea exploration, climate tech, regenerative solutions and more.
Call for Collaborative Leadership
Concluding his remarks, Dr Singh urged venture capitalists, institutional investors, and innovators to view the next decade as a “once-in-a-generation opportunity” to shape global innovation from India.
“We must ensure that India does not just participate in the technologies of the future, but leads them,” he said.
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