Unleashing Innovation: India's Rs 1 Lakh Crore Research Fund

Commerce and Industry Minister Piyush Goyal urged Indian industry leaders to utilize the Rs 1 lakh crore Anusandhan National Research Foundation fund. The initiative aims to foster a research-based ecosystem. Goyal highlighted the importance of collaboration between government, industry, and academia to drive innovation and growth.

Piyush Goyal, India's Commerce and Industry Minister, has called on the country's business sector to make the most of the substantial Rs 1 lakh crore fund under the Anusandhan National Research Foundation. This funding aims to foster innovation and build a research-driven ecosystem nationwide.

Speaking at the 97th Annual General Meeting of FICCI, Minister Goyal emphasized the potential benefits of this government initiative for developing a robust R&D ecosystem, urging industry leaders to engage actively with it. He also stressed the importance of private sector involvement in an industry-academia-government synergy.

Additionally, Goyal highlighted key government initiatives under Prime Minister Narendra Modi that are contributing to India's transformation. He urged industry leaders to collaborate with the government on easing compliance burdens and enhancing the ease of doing business, while maintaining high quality standards across sectors.

(With inputs from agencies.)