Boosting India's R&D: A Call for Private Investment

Union Minister Jitendra Singh urged the private sector to enhance its investment in research and development to advance India's scientific fields. Singh highlighted government efforts and encouraged broader industry participation to create a sustainable innovation ecosystem, pointing out the inadequacies in current corporate social responsibility funds allocated to R&D.

Union Minister Jitendra Singh has called upon the private industry to significantly boost its investment in research and development (R&D), playing a crucial role in advancing the nation's scientific and technological landscape. Singh emphasized that government initiatives alone cannot sustain long-term innovation.

Addressing the release of two NITI Aayog reports focused on easing R&D processes, he noted limited private sector participation thus far. The government's efforts, such as liberalizing sectors like space and nuclear energy and establishing the Research, Development, and Innovation Fund, aim to attract more industry involvement.

Singh also expressed concerns over the underutilization of corporate social responsibility (CSR) funds in R&D. He advocated for stronger philanthropic ventures and institutional backing, stating that a robust research ecosystem requires engagement from various sectors within society.

(With inputs from agencies.)