Bangalore, Dec 5 (UNI) Even though India started late on tapping the potential of Nano Technology it had picked up well and was on its way to catch up with rest of the world, C N R Rao, National Research Professor and Chairman, Science Advisory Council to the Prime Minister Manmohan Singh said today.
Speaking after announcing the launch of the first edition of the two-day Bangalore Nano 2007 beginning here tomorrow, Prof Rao said, taking into consideration the importance of the Nano Sciences, which offers over 8 to 9 billion dollar Global market, the Union Government had earmarked Rs 1000 crore to develop the technology.
He said all over the world, Nano technology had become an important scientific and research activity, which can be applied in all sphers, including Physics, Chemistry, Health Sciences, Bio-technology, drug delivery system and materials industry.
Stressing that it had already revolutionised some aspects of health care, Nano Technology also brought hope in cancer therapy, he added.
He said that the developed countries have realised the importance and potential of Nano technology and have invested a lot of funds for its research. ''Germany has already developed infrastructure which can manufacture over 300 tonnes of nano materials'' he added.
Prof Rao said India's first Institute of Nano Technology for which already Rs 100 crore has been sanctioned by the Centre will start functioning two years from now. ''The Karnataka Government also has allotted 15-acres of land to set up the Institute'' he said.
He said the commercial value of Nano materials would be around 100 billion dollar, if it was effectively applied in the field of chemical industry, textile, electronic, cosmetic, diagnostics and drug delivery system.
Emphasising the need for collaboration between industries and research institutes in the application of the Nano technology, Prof Rao said venture capital funds can play a vital role in bringing industry and technology together.
On the Bangalore Nano-2007, he said over 400 delegates from India and abroad, including, scientists, industrialists, policy makers and students, would deliberate on the subject which can offer infinite opportunities.
M N Vidyashankar, Secretary Department of IT, Biotechnology and Science and Technology, Karnataka Government who was also present, said the European Commission had taken keen interest and would be participating in a big way. There will be exhibitions, poster display, seminars and lectures from eminent personalities on research cooperation opportunities in Nano science and materials research. A session was devoted to students in which about 400 students from over 12 colleges drawn from different parts of the state will take part.