More private participation in R&D; needed: Ashwani Kumar
November 12th, 2011 - 9:22 pm ICT by IANSMumbai, Nov 12 (IANS) The government is exploring ways and means to significantly enhance the engagement of the private sector in industrial research and development (R&D;), union Minister of State for Science and Technology Ashwani Kumar said Saturday.
The government proposes to increase the private participation in research and development from the existing 0.24 percent of GDP to at least one percent in the near future, he said during an interaction session with top corporate heads and members of Confederation of Indian Industry during the India Economic Summit of the World Economic Forum.
As per current data, private sector investment in research and development is pegged at around Rs.7.20 billion, he said.
“On the other hand, investments of the public sector into research and development through departments of atomic energy, biotechnology, earth sciences, industrial research, science and technology and space are about Rs.2,000 crores, inclusive of non-plan expenditure,” said Ashwani Kumar.
He said that in countries like Germany, France, Finland and Australia, the private sector expenditure on R&D; activities accounts for 60-65 percent of the total expenditure on research and in China, the industry contributes nearly 70 percent.
Ashwani Kumar said that the central government plans to increase India’s gross expenditure on research and development to 2 percent of GDP at the end of 12th Five Year Plan and it wants at least 50 percent of this to come from the industry.
To achieve this aim, several policy initiatives have been announced aimed at stimulating private sector investment in research and development through various fiscal benefits and tax concessions, he said.
Ashwani Kumar said that huge research opportunities are available in the fields of biotechnology and Nano-technology, in which India ranks 6th in the world in terms of published research.
The Nano Mission programmes have led to about 4,000 research papers, 80 patents, 600 PhDs and 200 M.Tech/M.Sc students in the field, he said.
Besides the minister, Science and Technology Secretary T. Ramasami, Bio-Technology Secretary S. K. Bhan, Earth Sciences Secretary Shailesh Naik were also present.
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Tags: atomic energy, confederation of indian industry, earth sciences, economic summit, fields of biotechnology, fiscal benefits, five year plan, gross expenditure, minister of state, plan expenditure, policy initiatives, private participation, private sector investment, research opportunities, research science, rs 2, tax concessions, union minister, ways and means, world economic forum