CII inks MoU with IISc to innovate Indian industry

New Delhi, May 1 (UNI) Industry body CII today signed a memorandum of understanding (MoU) with Bangalore-based Indian Institute of Science (IISc), to create an ecosystem of innovation for the country's industry.

The MoU was signed at the fifth meeting of CII Mission for 'Innovation in Manufacturing' for an initial period of two years to provide collaboration between academies and research institutes of India, a statement said here today.

As per the agreement, CII would set up a help line from the Institute to provide service to Industry. This helpline will endeavour to bring together experts from the academia and the entrepreneurs looking for solutions to technical and engineering problems.

The Industry Academia partnership will provide critical infrastructure for building a culture of innovation in a country.

Besides, the partnership would focus on providing high quality low cost product solutions for this section of the society, the statement added.

The two institutions will bring together the expertise to 'hand-hold' the stakeholder in the area of innovation.

According to CII, for India's manufacturing sector to surpass 14 per cent growth rate and contribute at least 35 per cent to the GDP, the only strategy is to become innovative; to find sustainable solutions to meet the needs of millions of Indians.

UNI