Piyush Goyal Calls Industry to Leverage Rs 1 Lakh Crore ANRF Fund to Drive Innovation and Foster a Research-Based Ecosystem

Shri Goyal urged the private sector to partner with academia and the government to create an outcome-oriented and time-efficient research and development (R&D) ecosystem.

Union Minister of Commerce & Industry, Shri Piyush Goyal, called on industry leaders to actively utilize the Rs 1 lakh crore allocated under the newly operationalized Anusandhan National Research Foundation (ANRF) to build a robust research ecosystem in the country. Delivering the keynote address at the Federation of Indian Chambers of Commerce & Industry’s (FICCI) 97th Annual General Meeting and Annual Convention in New Delhi, the Minister emphasized the importance of fostering innovation, experimentation, and a youth-driven mindset for developing groundbreaking ideas.

Shri Goyal urged the private sector to partner with academia and the government to create an outcome-oriented and time-efficient research and development (R&D) ecosystem. He called for practical suggestions from industry leaders to streamline processes for accessing ANRF funds, ensuring measurable impacts. Highlighting the necessity of aligning R&D with the nation’s needs, Shri Goyal expressed optimism about the industry’s ability to enhance exports and contribute to India’s position in global value chains.

India’s Transformation under PM Modi’s Initiatives

The Minister highlighted how government schemes like Digital India, PM SAUBHAGYA (Pradhan Mantri Sahaj Bijli Har Ghar Yojana), PM Garib Kalyan Anna Yojana (PMGKAY), and Ayushman Bharat have accelerated India’s transformation. Describing these initiatives as "beads in a necklace," he underscored their cumulative impact in shaping the nation’s rapid progress.

Shri Goyal specifically lauded the Swachh Bharat Mission (SBM) for revolutionizing cleanliness and hygiene across the country, attributing its success to the visionary leadership of Prime Minister Narendra Modi. He commended FICCI for launching the “Excellence in Swachh Industry Parks” award, promoting cleanliness in industrial areas, and encouraged industries to adopt cleanliness initiatives as part of their Corporate Social Responsibility (CSR) strategies.

Enhancing Ease of Doing Business

Calling for active participation from FICCI members, Shri Goyal urged the industry to work with the government on reducing compliance burdens and decriminalizing outdated business laws. He emphasized the importance of FICCI as a feedback mechanism to improve policymaking and enhance the Ease of Doing Business in India.

Raising Quality Standards

Shri Goyal stressed the need for India to raise quality standards to become a globally trusted producer of goods and services. He suggested FICCI form technical committees with representatives from various industries to ensure practical and robust standards. “India will not only be a trusted partner but also a provider of quality goods, defining our journey toward Viksit Bharat (Developed India),” he said.

India’s Global Role as a Trusted Partner

Highlighting India’s growing stature on the global stage, Shri Goyal noted that the country is increasingly integrated into global value chains. He asserted that India, under the leadership of Prime Minister Modi, has become a beacon for the Global South and a pivotal growth engine for the world.

Corporate Responsibility and Education

Shri Goyal proposed CSR initiatives to adopt schools and colleges, emphasizing the need for clean and accessible toilet facilities to positively impact children’s futures. He noted that such contributions would strengthen India’s growth story and align with the country’s holistic development vision.

Shri Piyush Goyal’s address underscored the critical role of industry, academia, and government collaboration in shaping India’s future as an innovation and quality-driven economy, propelling the nation toward its 2047 goal of becoming a developed nation.