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RDI scheme should fund firms that can deepen R&D, have absorptive capacity

The RDI Scheme should fund firms with adequate absorptive capacity - but which firms and how will be key Naushad Forbes Mumbai Listen to This Article The Research, Development and Innovation (RDI) Scheme has been cleared by the Cabinet. The scheme allocates ₹1 trillion (or $12 billion) to funding R&D in Indian industry. Of this, ₹20,000 crore is in this year's budget. Initial comments on how the funds will flow suggest that much of it will be provided in the form of low- or zero-interest loans to a mix of funds of funds and directly to firms. My eyes glaze over in incomprehension when I hear the phrase 'fund of funds' — I just do not know how they will be held accountable for directly enhancing