HLC on banking to align financial sector growth to Viksit Bharat (See 'Corp Brief') Infra Risk Guarantee Fund to instil confidence in private developers (See 'Corp Brief') Shares buyback to be taxed as capital gains for all categories of shareholders (See 'Corp Brief') IIFT achieves 1st Position in Times B-School Ranking 2026 (See 'Corp Brief') Centre to enable States to establish regional medical hubs for tourism (See 'Corp Brief') Budget lays emphasis on scaling up manufacturing in 7 strategic sectors (See 'Corp Brief') Competition Act - intervention of CCI not warranted where allegations contained in Information are vague, sweeping & unsupported by material particulars necessary to establish contravention of Sections 3 or 4 of the Act: CCI (See 'Legal Desk') Interest accrued on motor accident compensation will no longer attract TDS (See 'Corp Brief') FM proposes uniform MAT Treatment for non-resident opting for Presumptive Tax (See 'Corp Brief') Tax certainty for non-resident individuals (See 'Corp Brief') Govt. revised criteria for Inter-Group loan exclusion from 'Dividend' definition (See 'Corp Brief') FDI Limit in Insurance Sector raised to 100%, subject to full domestic investment of premiums (See 'Corp Brief') Govt to facilitate ICAI, ICSI, ICMAI to run short-term know-how courses for youth (See 'Corp Brief') Government to set up 'BharatTradeNet' as Unified Digital Platform for international trade (See 'Corp Brief') Sovereign Gold Bond Capital Gains exemption to apply only to original holders at maturity (See 'Corp Brief') CSIR-NIO's Vizag Centre to play key role in offshore energy: MoS (See 'Corp Brief') FEMA - Statement recorded u/s 37 of FEMA did not amount to confession of criminal offence: HC (See 'Legal Desk') International Olympic Academy Director impressed by India's vision for sports (See 'Corp Brief') WB ranks India among top 5 in terms of private investment in infra (See 'Corp Brief') SEBI - In absence of explicit permission/exemption with respect to RFQ requirements, Noticee should have suspended its services if it was not feasible to engage large amounts of funds into working capital: SEBI (See 'Legal Desk') Survey: India should focus on application-based AI tools (See 'Corp Brief') IBC - NCLT can't decide title disputes over assets, including IPRs such as trademarks, unless they have direct & proximate nexus with insolvency resolution process: SC (See 'Legal Desk') UNCTAD ranks India as leading economy in trade partner diversification (See 'Corp Brief') The Securities Markets Code, 2025: Strengthened Enforcement, Weakened Accountability? (See 'CORP EINSICHT')

Print

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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.