India's R&D Boost: Piyush Goyal Calls for Industry Collaboration

Union Minister Piyush Goyal urges industry leaders to actively engage in India's R&D ecosystem, emphasizing collaboration, innovation, and quality standards. He highlights government initiatives fostering development and the essential role of private sector partnerships in advancing India’s global economic standing and enhancing the country’s growth trajectory.

In an address at the Federation of Indian Chambers of Commerce & Industry's 97th Annual General Meeting, Union Commerce and Industry Minister Piyush Goyal emphasized the government's initiative to bolster India's research and development ecosystem. Goyal called on industry leaders to contribute to making funding processes more outcome-oriented and efficient.

He advocated for integrating private sector institutions into the government-led innovation framework to meet societal needs and drive export growth. Notably, Rs 1 lakh crore allocated under the Anusandhan National Research Foundation should energize industry-led innovation and cultivate a research-focused mindset among youth.

Goyal praised Prime Minister Modi's transformative initiatives, such as Swachh Bharat Mission, aligning cleanliness with economic growth. The Minister emphasized the critical role of industry collaboration in enhancing the Ease of Doing Business and maintaining high-quality standards, reinforcing India's position as a trusted global partner.

(With inputs from agencies.)