RDI Fund 'Conflict of Interest' policy protected by Stringent Safeguards: MoS (See 'Corp Brief') BRICS Youth Council Meeting and BRICS Youth Summit held successfully in Gandhinagar (See 'Corp Brief') RM to hold bilateral talks with his Japanese counterpart in New Delhi (See 'Corp Brief') 'Friends of MY Bharat': A New Global Youth Connect launched (See 'Corp Brief') IBC - Writ remedy cannot be invoked where petitioner does not challenge any order passed by either Tribunal but merely seeks directions relating to listing, constitution of special bench & restraint on pending proceedings - costs of Rs 25000 imposed on petitioner: HC (See 'Legal Desk') HM to chair 31st meeting of Southern Zonal Council in Mahabalipuram (See 'Corp Brief') India hosts 8th BRICS Youth Energy Summit 2026 (See 'Corp Brief') Health Ministry organises Capacity Building Workshop to strengthen Leprosy Control (See 'Corp Brief') IPR - Fundamental test in trade dress passing off action is one of overall impression and similarity, rather than side-by-side comparison of minor differences: HC (See 'Legal Desk') FM asks Banks to establish sustained relationship with Young customers (See 'Corp Brief') Guwahati-Tezpur Corridor: A New Highway Link to Boost Assam's Tea, Tourism and Trade (See 'Corp Brief') Historic Turnout Marks West Bengal's First-Ever Kaushal Mahotsav (See 'Corp Brief') PMLA - Accused has no vested or matter-of-right entitlement to conversion of non-bailable warrant into bailable warrant: HC (See 'Legal Desk') CCI approves acquisition of 23% equity of TM International Logistics by Tata Steel (See 'Corp Brief') CCI nod for addl shareholding of Acko Technology by General Atlantic Singapore (See 'Corp Brief') CCI okays acquisition of equity in Bharti Life Insurance by Prudential Corporation (See 'Corp Brief') Competition Law - Collective determination of freight rates by truck associations constituted horizontal agreement that directly determined sale prices, thereby violating Sec 3(3)(a): CCI (See 'Legal Desk') Gwalior-Chambal Region to gain New Momentum with Strengthened Rail Connectivity (See 'Corp Brief') Credit to weaker sections reaches Rs 3.49 lakh crore (See 'Corp Brief') PMLA - NBFCs cannot shield themselves from liability when they allow their regulatory licenses to be used for predatory financial crimes: SAFEMA (See 'Legal Desk') Department of Youth Affairs to host BRICS Youth Council Meeting (See 'Corp Brief') IBC - Only crystallised claims as on effective date are payable on pro-rata basis from designated Operational Creditors Settlement Amount: SC (See 'Legal Desk') RDDBFI - Borrowers cannot cherry-pick figures from bank certificates while ignoring standard accounting treatment of interest after NPA classification: SC (See 'Legal Desk') IPR - Holding subsequent trademark registration does not override prior court injunction protecting visual get-up: HC (See 'Legal Desk') PSB Confluence 2026 - deposit mobilisation, banking for youth & investment cycles on agenda (See 'Corp Brief') A&C - Continuation of arbitration proceedings against some guarantors while statutory interim moratorium u/s 96 of IBC is in effect regarding 'debt' violates fundamental policy of Indian law: HC (See 'Legal Desk') IBC - Rights issue that does not comply with the mandatory timing and procedural requirements under company law, and which reduces majority shareholders into minority and transfers control, constitutes oppression: NCLT (See 'Legal Desk') DFS highlights mechanism for Timely Redressal of Insurance Policyholders' Grievances (See 'Corp Brief') CCRAS-NIIMH signs MoU with Sevadhi Museum and Indological Research Institute for Digitization (See 'Corp Brief') IBC - Second proviso to Rule 30(9) of Companies (Incorporation) Rules, 2014, acts as mandatory statutory bar, which prevents Regional Director from allowing shifting of registered office while appeal against resolution plan is pending: HC (See 'Legal Desk') Over 2 Lakh Villages, Now 'Har Ghar Jal' Certified (See 'Corp Brief') Companies Act - Assets of a company belong to the entity and its creditors, not its shareholders; transfer of company assets seemingly to place them beyond creditors' reach is impermissible: HC (See 'Legal Desk') MSDE convenes India-Japan Stakeholder Consultation to strengthen skilling (See 'Corp Brief') Competition law - Dealership termination, even if commercially harsh, does not by itself become competition law violation unless there is material showing an anti-competitive agreement causing dominance and abuse: CCI (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (See CORP EINSICHT)

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New STP - Business captains call for dovetailing industry & academia

Published: Jul 03, 2020

By TIOLCORPLAWS News Service

NEW DELHI, JULY 03, 2020: Top leaders of industries interacted with Principal Scientific Advisor to the Government of India and Professor K Vijay Raghavan and DST Secretary Professor Ashutosh Sharma at the high-level Industry consultation roundtable for the formulation of the new Science, Technology & Innovation Policy STIP 2020 and discussed ways to make the policy a strong one that would encourage more industry participation in R&D activities.

While chairing the consultation meeting, Professor K Vijay Raghavan, called for discussions about disruptive strategies to boost investment in R&D, ensuring benefits for industry from such investment as well as ways to mitigate investment risk. In his address to the industry leaders, Prof Ashutosh Sharma outlined the importance of investment in R&D and said that industry should not just invest in R&D but benefit more from R&D. He requested Industry leaders to identify missing elements that could connect industry to academia so that gap can be filled in the new policy.

This is the first-ever high-level industry consultation for the formulation of a Science, Technology, and Innovation Policy, which by way of its decentralized, bottom-up, and inclusive design process, aims to re-strategize priorities, sectoral focus, and methods of research and technology development for larger socio-economic welfare. The roundtable meeting was held over a virtual platform by the STIP 2020 Secretariat in partnership with Confederation of Indian Industry (CII) and Science Policy Forum.

The consultation was focused on inviting suggestions from Industry leaders for the upcoming STIP 2020 that will pave the way towards a knowledge-based economy. About 15 industry stalwarts participated in the first day of the roundtable meeting and shared their views and suggestions for the new STIP 2020 and discussed how to create an R&D ecosystem in a sustainable way to solve social problems. Top leaders from industry like Dr. Naushad Forbes, Co-chairman, Forbes Marshall Private Limited; Mr. S Gopalakrishnan, Co-Founder, Infosys Limited and Chairman Axilor Ventures; Mr. C P Gurnani, Chief Executive Officer & Managing Director Tech Mahindra Limited; Mr. R Mukundan, Managing Director, Tata Chemicals Limited; Dr. Ramesh Datla, Chairman & Managing Director, ELICO Limited; Dr. Rajesh Jain, Managing Director, Panacea Biotec Limited; Ms. Anu Acharya, CEO, Mapmygenome; Dr. Rajiv I Modi, Chairman & Managing Director, Cadila Pharmaceuticals Limited; Mr. Sumant Sinha, Chairman and Managing Director, ReNew Power Limited; Dr. Gopichand Katragadda, Founder & CEO, Myelin Foundry; Dr. Debashish Bhattacharjee, Vice President, Technology & New Materials Business, Tata Steel Limited; Dr. Suresh Jadhav, Executive Director, Serum Institute of Indian Pvt. Ltd; and Dr. Venkata Ramana, Chief Scientific Officer, Reliance Life Sciences, shared their insights and expectation on the STIP 2020.

The industry captains stressed on the need for more collaboration between industry & academia and also need to increase the investment in R&D as a percentage of GDP. Head of STIP 2020 Secretariat & Advisor, DST, Dr. Akhilesh Gupta, presented an outline of the STIP2020 formulation process from Track 1 to Track 4 initiated by STIP 2020 secretariat. He also placed before the industry captains some of key expectations of government.

The STIP 2020 Secretariat has been established jointly by the Office of Principal Scientific Adviser (PSA) and Department of Science and Technology (DST) to coordinate and execute the entire STIP 2020 policy-making process.

The Science, Technology, and Innovation Policy (STIP 2020) was flagged off jointly by the (Office of PSA), and DST as India and the world reorient in the wake of the COVID-19 crisis. The new policy is expected to be released later this year, replacing the existing policy, which was formulated in 2013.

The STIP 2020 formulation process is organised into 4 highly interlinked tracks, which will reach out to around 15,000 stakeholders for consultation in the policy formulation. Track I involves an extensive public and expert consultation process through Science Policy Forum - a dedicated platform for soliciting inputs from larger public and expert pool during and after the policy drafting process. Track II comprises experts-driven thematic consultations to feed evidence-informed recommendations into the policy drafting process. Twenty-one (21) focused thematic groups have been constituted for this purpose. Track III involves consultations with Ministries and States, while Track IV constitutes apex level multi-stakeholder consultation.

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