The Hindu Business Line : Ministry plans research fund

THE Ministry of Communications and IT will move a Cabinet note for the creation of a fund for intensive research work in logistics and supply chain management.

"A research fund must be created to evolve technology so that we manufacture products for our essential requirement and shun dependence on foreign manufacturers," the Minister of State for Communications & IT, Mr Shakeel Ahmed, said at a seminar organised by the Associated Chambers of Commerce and Industry here.

Though the Minister refused to divulge details of the proposed fund, he said the Ministry has made up its mind to create such a fund with a large capital base shortly.

Citing the example of the country's dependency on overseas mobile manufacturers, he said despite making tremendous progress in mobile telephony, India is paying over Rs 600 crore annually as technology fee to the foreign firms.

Mr Ahmed asked the industry to make an investment of over Rs 1,60,000 crore so that "rural folks have access to telecom services".

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