India's ₹1 lakh crore RDI programme opens doors for deeptech venture capital

India's Rs 1 lakh crore Research, Development, and Innovation (RDI) programme is beginning to attract venture capital into deeptech, signalling a shift from technology consumer to producer. Mid-tier VC firms are now evaluating more deeptech companies and hiring technical experts. The government's RDI scheme has approved 22 projects worth Rs 4,744 crore, with Rs 2,192 crore in government contributions. Venture funds are considering raising half their capital from private investors and the rest from RDI. Deeptech companies raised $574 million across 61 deals in 2026. India's R&D spending remains below 1% of GDP, though private industry's share has risen to 45.2%. The programme aims to bridge the financing gap between research and commercialisation, with China's ecosystem serving as both a model and a warning.