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Govt. calls for private sector participation in R&D
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Namrata Kath Hazarika | 11 May, 2010
The Union Minister of Science & Technology and Earth Sciences, Prithviraj Chavan called the Indian Industry in private sector to increase their expenditure in Research and Development (R&D) as the sector so far has not given adequate importance to R&D.
The Minister said in the occasion of 2nd Global Industrial R&D Conclave, "Private sector needs to come forward in a much bigger way to increase its contribution. There are some sectors particularly the pharma and auto which has potential R&D. By and large other sectors have not invested adequately in research & development."
He highlighted that India's aspiration is to go up to 2 percent in Research and Development (R&D) from the current 1 percent is not easy task.
"Unfortunately from that 1 percent only ¾th comes from the public sector. Private sector contributes less than a fourth to the R&D expenditure," the minister added.
He also said, "Indian private sector has to grow robust and they are capable to invest in R&D. Some of them have chosen to invest in R&D and others are still thinking."
He urged the Indian private sector to increase their investment and expenditure in R&D and take full advantage of incentives announced by the Government in the current budget.
Chavan also pointed out that currently the government's focus is on technology development and innovation which will facilitate to create new enterprises in India.
He said, " The focus now is on technology which can deliver solutions to our people. And, innovations which can create new enterprises. The new enterprises which can create wealth for the country but more than wealth it can create jobs for the millions of people."
Commenting on the R&D capabilities of the country, Hari S Bhartia, President-Designate, CII & Co Chairman & MD, Jubilant Organosys Ltd said India's capacity to invest in R&D has increased 100 times at present.
However, he said, there are some challenges which should be addressed both by the government and the industry. He added that India requires high quality human resource, invest in higher education, ability to translate early science into technology and technology into commercial success, enough risk capital, government policies can act as impetus, adequate investment in the basic level, clusters development to promote R&D, reserve brain drain, effective intellectual property right, and networking also helps in R&D
Innovation can be driven by policies and effort from the industry, which will help in R&D activities, Bhaitia added.
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