Comments
Private sector engagement in the science & technology sector needs to go up at least eight-fold, especially in research & development (R&D), the S&T Minister, Jaipal Reddy, said here on Friday.
Releasing a white paper, prepared jointly by the Department of S&T and the Confederation of Indian Industry on ‘Stimulation of Private Sector’s Investment Into R&D’, Reddy said business enterprises were one of the main sources of innovation and played a significant role in funding and performing R&D in most countries.
Calling upon the private sector to work together with the public sector in partnership mode, Reddy said the Government had laid high emphasis on attracting investment of private sector into R&D to match public investments (that is one per cent of GDP each by Government and industry) before the end of 12th Plan.
He said size of the 12th Plan for the S&T sector had been estimated with a public investment of Rs 1,20,430 crore, and added that private sector engagement needed to be scaled up for India to achieve the goal of two per cent of GDP expenditure on R&D.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.