FICCI Bharat R&D Summit 2024: Boosting Innovation in India
The Federation of Indian Chambers of Commerce and Industry (FICCI) hosted the Bharat R&D Summit 2024 in New Delhi, focusing on enhancing collaboration between industry and academia to drive research and innovation in India. The event gathered leaders from academia, industry, and government to discuss ways to strengthen India’s innovation ecosystem.
During the summit, FICCI launched a compendium of technologies available for commercialization, aiming to bridge the gap between research and practical application. Jyoti Vij, Director General of FICCI, highlighted India’s progress in innovation but stressed the need for clear outcome metrics and deeper industry-academia cooperation to avoid the middle-income trap and advance towards a ‘Viksit Bharat’ through innovation.
Dr. Akhilesh Gupta, Senior Advisor to the Department of Science and Technology, emphasized the importance of public-private partnerships in overcoming technology readiness barriers and called for more private sector involvement in research and development. Professor Sudhir Kumar Barai, Co-Chair of the FICCI Innovation Committee, discussed how the New Education Policy (NEP) 2020 encourages multidisciplinary learning and initiatives like the ‘Professor of Practice’ to nurture innovation.
Anandi Iyer, Co-Chair of the FICCI Innovation Committee and Director of Fraunhofer India Office, stressed the need for applied research models to accelerate commercialization and better align academic research with industry needs. The summit also featured an exhibition of over 50 research projects, highlighting the importance of private sector investment and trust-building between academia and industry for India to become a global leader in innovation.
Doubts Revealed
FICCI -: FICCI stands for the Federation of Indian Chambers of Commerce and Industry. It is an organization in India that works to promote business and industry.
R&D -: R&D stands for Research and Development. It involves activities that companies and organizations do to innovate and introduce new products or services.
Summit -: A summit is a big meeting where people come together to discuss important topics. In this case, it’s about research and innovation in India.
New Education Policy 2020 -: The New Education Policy 2020 is a plan by the Indian government to improve the education system. It aims to make learning more flexible and focus on skills like creativity and critical thinking.
Public-private partnerships -: Public-private partnerships are collaborations between the government and private companies. They work together to achieve goals that benefit the public, like building infrastructure or improving education.
Jyoti Vij -: Jyoti Vij is a person who plays an important role in discussions about business and industry in India. She is involved in organizing events like the FICCI Bharat R&D Summit.
Dr. Akhilesh Gupta -: Dr. Akhilesh Gupta is a scientist and a key figure in promoting research and innovation in India. He often speaks about the importance of science and technology in the country’s development.
