'Supporting innovation high on govt's agenda'
New Delhi, Jan 29: Deputy Chairman of Planning Commission, Dr Montek Singh Ahluwalia called on the private sector to play key role in providing resources for research and development work.
Stating that the government was ready to provide support to the private sector by creating an enabling environment, Dr Singh said, “Giving boost to Technology innovations is high on Government of India"s agenda."
Dr Ahluwalia was speaking at the breakfast session, titled 'Innovation through collaboration in the Era of Networked Pharma', organized by Confederation of Indian Industry (CII) and Jubilant Organosys at Davos on Friday, Jan 29.
At the session attended by private players as well as academia, Dr Ahluwalia informed that India was committed to putting a strong system on IP protection and compliance.
An Innovation Group has been set up under the aegis of Planning Commission to focus on areas that needed support from government, he added.
An independent legal system, enforced IP standards, talent pool are some of the many factors giving India a unique comparative advantage in the business of innovations.
He went on to say that, these factors are also helping the country offer tremendous opportunities to entrepreneurs particularly in the areas of research, collaboration, and outsourcing.