R&D investment would be hiked this year, says PM

R&D investment would be hiked this year, says PM
PRESS TRUST OF INDIA

PUNE, JAN 3: Prime Minister Atal Behari Vajpayee on Monday said the Government would hike investment on research and development to one per cent of the gross domestic product this year and two per cent over the next five years, and is committed to removing bureaucratic hurdles for replicating India's success in information technology in other areas of science.

India's research budget would be increased from the present 0.86 per cent of the GDP to one per cent this year and further to two per cent over the next five years, Vajpayee said inaugurating the 87th Indian Science Congress here. At the same time, the country must aim to replicate its success in IT in other areas of science, technology and enterprise. India had already taken steps in this direction, he said assuring that many such steps would be taken in the future.

"We are committed to removing restrictive bureaucratic hurdles and strengthening cooperative network between research laboratories, academic institutions, non-governmental organisations(NGOs), the industry and government agencies." Encouraging scientists to make this century full of Indian achievements, he said, "Ikkeesvin shatabdi, Bharat ki shatabdi" (21st century, India's century). "By world standards, India's investments in R and D are wholly inadequate and sub-critical," the Prime Minister said.

Urging the scientists to commit themselves to improving standards of science education, promoting India's traditional knowledge, spreading the culture of venture capital and increasing awareness about intellectual property rights (IPR), the Prime Minister said the synergy between existing institutions and assets should be increased to make the country a global corporate platform.