New Delhi, Apr 24 (UNI) Science and Technology Minister Kapil Sibal today said the Industry must step forward and collaborate more actively with the government and academia to encourage research and innovation.
''''We must make research and innovation financially viable and use the current growth of the economy to support research and innovation,'' Mr Sibal said at a seminar organised by the CII and his Ministry on the eve of the World Intellectual Property (IP) Day.
He said an appropriate legal framework was needed for the innovation ecosystem to function.
Pointing out that India spend 0.8 per cent of its GDP on research, he lamented that only one-fourth of it came from the private sector.
''The private sector has a very important role to play in research and innovation,'' he added.
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