The Hindu Business Line : Call for more focus on R&D by companies

INDIAN industry should be more focussed to research and development (R&D). The balance sheets of the companies suggest that the total spend on R&D is not enough. Once the investments increase, larger creativity and commercial value would emanate from these organisations. This was stated by Dr S. Narayan, Economic Advisor to the Prime Minister of India, while inaugurating the `ICC-India FICCI - IIPD International Conference on Intellectual Property Policy: Research and Innovation in Developing Countries' here on Tuesday.

The Government has a vision to provide incentives to all such efforts and the sectors that are likely to attract more Government support are engineering and chemicals, he said.

He also called for greater partnership between the industry and the research labs. The relationship should not be merely of technical borrowing but be complementary to each other, more particularly because the cost of research in India is comparatively less and added that this could go a long way in converting the laboratories into a market.

The conference precedes the meeting of the International Chamber of Commerce (ICC) - Intellectual Property Commission taking place in India for the first time. Mr Urho Ilmonen, Chairman of the ICC Intellectual Property Commission, announced that ICC would shortly launch an intellectual property roadmap for business and policy makers. He said that in order to maintain the political, economical and sociological balance, IP laws should recognise the need for appropriate limits. Vigorously protecting intellectual property while maintaining a fair balance between the interests of various stakeholders is in the interest of all societies.

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