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'Revolutionary': Investor's jibe at India’s low R&D spending amid debate on deep tech priorities
Business Today
·
4m ago
Medial
The article discusses criticism levied at India's relatively low investment in research and development (R&D), despite Prime Minister Narendra Modi's commitment to revolutionary advancements in deep tech. Innovators and investors have pointed out that a proposed investment of Rs 10,000 crore ($1.2 billion) would not significantly impact the percentage of GDP allocated to R&D. This debate highlights the challenges and discussions surrounding India's prioritization and funding of technological innovation.
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'Can we build new IITs by just watching IPL?': IITian calls out India’s funding priorities
Business Today
·
2m ago
Medial
India prioritizes cricket over science in funding, sparking debate. Career coach Virendra Grover highlights IISc professor Mayank Shrivastava's critique that IPL revenues could build ten new IITs if taxed. Shrivastava argues India doesn't lack money but the will to invest in science. IPL profits, untaxed due to BCCI’s charitable status, contrast with taxed research labs. India's R&D spending is low, prompting calls for balanced investment supporting both scientific research and underprivileged income-building.
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KPIT CEO calls for increased R&D, deeptech investments - The Economic Times
Economic Times
·
1m ago
Medial
KPIT CEO Kishor Patil emphasizes the need for India to boost R&D investment, foster deeptech innovation, and enhance export quality to compete globally in the automotive sector. He cites India’s potential amidst geopolitical shifts and advocates for increased government support. KPIT has ramped up its R&D spending and expanded globally, notably acquiring Caresoft Global Technologies to strengthen its position in the off-highway commercial vehicle segment and enter the China market.
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Can Budget's R&D Push Transform India Into A Product Economy?
Inc42
·
1y ago
Medial
In her Budget 2024 speech, the Finance Minister announced the operationalization of a INR 1 lakh R&D fund, a INR 1,000 crore venture capital fund, and funding support for agri-tech startups focused on research and development. The startup ecosystem stakeholders are hopeful that these measures will drive innovation in sectors like deep tech and space tech. However, an investor emphasized the need for quality professors, research infrastructure, and increased R&D spending to transform India into a product-led economy.
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Budget 2024: India’s deep-tech wants more patient capital
OutlookIndia
·
1y ago
Medial
India's deep tech industry is looking forward to Budget 2024, with hopes for more patient capital and sector-specific support initiatives. The government aims to promote deep tech as the focus of Startup India's second phase, with a focus on innovation and indigenous R&D capabilities. However, experts suggest that the lack of timely and substantial funding is hindering the sector's growth potential. They recommend exclusive schemes for deep tech, similar to the Production-Linked Incentive (PLI) schemes, and support for micro-VCs to drive investments at early stages. Additionally, there is a need for clear priorities and increased funding in specific areas within the deep tech sector.
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₹20,000 crore allocated to DST to kickstart ₹1 lakh crore research and development fund
Livemint
·
6m ago
Medial
Union Finance Minister Nirmala Sitharaman allocated ₹20,000 crore to the Department of Science and Technology to kickstart a ₹1 lakh crore research and development fund. This aims to promote private sector-driven innovation, particularly in deep tech and sunrise sectors. The initiative addresses concerns over low private sector investment in R&D, despite government incentives. Budget allocations for various departments like Biotechnology and Space were increased to support this strategic autonomy in key technology sectors.
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DPIIT Reveals Plans For Separate Policy For Deep Tech Start-ups
Inshorts
·
1y ago
Medial
DPIIT plans to introduce a separate policy and funding mechanism for deep tech start-ups in India. DPIIT Secretary RK Singh cited the need for a distinct framework to cater to the intensive R&D and innovation requirements of deep tech firms. The proposal includes establishing separate funding avenues for deep tech start-ups, which often require longer gestation periods and more support.
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Tata, Adani have funds for deep tech R&D in India: Bikhchandani
Inshorts
·
3m ago
Medial
Info Edge Founder Sanjeev Bikhchandani said deep tech development in India needs huge investment and years of patience. He suggested tapping into India's biggest companies, like Reliance Industries, Tata Group and Adani Group, to invest in deep tech startups' R&D. "These are points to be pondered. It can't just be…responsibility of startup world to build deep tech," he said.
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India to lead next evolution of technology, says Nvidia South Asia MD
YourStory
·
11m ago
Medial
India is poised to lead the next wave of technology advancements, according to the Managing Director of Nvidia India. With its deep cultural heritage and the integration of machine intelligence, India is uniquely positioned to be a global technology leader. The digital divide in the country presents an opportunity for advancements in technology, particularly in the field of AI. The government is also focusing on expanding innovation beyond major cities through the establishment of centers of excellence. Technology companies are urged to increase their R&D spending to transform India into a product-focused nation.
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India set to boost manufacturing share to 3% of global trade in five years: Accel
YourStory
·
2d ago
Medial
India's manufacturing sector is projected to increase its global trade share to 3% by 2030, spurred by advanced manufacturing, policy reforms, and a skilled workforce, according to a report from Accel. The sector's domestic value could reach $1.3 trillion, up from the current $471 billion. Key areas for growth include aerospace, electronics, and automobiles, with India positioned as an alternative manufacturing hub amid global geopolitical shifts. Challenges include low R&D investment and workforce employability.
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Japan's deep-tech startups eye IIT talent
Inshorts
·
1y ago
Medial
At the NEDO IIT-Delhi Japan Deep-Tech Collaboration event, NEDO Director General Takeshi Yoshida shared his plans to partner with IIT Delhi's talented students for Japanese deep-tech startups. NEDO, Japan’s national R&D agency since 1980, has supported about 1,000 startups globally with subsidies of up to $18 million. This collaboration aims to boost innovation and growth for both nations.
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