Private Sector's Role in Boosting Research Funding

Union Science and Technology Minister Jitendra Singh urged for increased private sector involvement in funding research to overcome government limitations. Speaking at the release of a NITI Aayog report, he emphasized the need for structural reforms and partnerships to strengthen State S&T Councils and drive innovation.

Union Science and Technology Minister Jitendra Singh on Thursday urged the private sector to take on a larger role in funding research initiatives. He emphasized that government resources have limitations and should act as facilitators, not sole funders, in scientific ventures.

At the launch of a NITI Aayog report titled 'Roadmap for Strengthening State S&T Councils', Singh noted that 67% of India's research publications originate from 450 centrally-funded institutions. He advocated for a shift in mindset to encourage private sector participation.

The report highlighted challenges faced by State S&T Councils, such as inadequate funding, fragmented mandates, and weak institutional capacities. It called for structural reforms, capacity-building, and strategic partnerships to enhance their effectiveness and drive scientific innovation and entrepreneurship.