Chennai:
The Rs 5,000 crore Indian corporate research-and-development fund on the lines of the National Science Foundation in the US is put on the backburner due to slowdown of Indian economic growth, according to Union Ministry of Human Resources Department secretary Ashok Thakur.
Speaking after inaugurating the Human Resources conclave organized by Indian Institute of Management Tiruchirappali here on Friday, Thakur said that the Rs 5,000 crore corporate research and development fund, which was one of the recommendations made by the N R Narayana Murthy Committee on Corporate Sector Participation in Higher Education will not materialize soon.
“This was conceived when the economy was doing good. But now with the slowdown of the economy, the fund for promoting active collaboration between Industry, government and academia won’t be happening,” he said.
Narayana Murthy has suggested that the fund should be created by the central government and the corporates operating in India. “Such a fund operating with a transparent and merit based funding mechanism can act as a huge fillip for research and development in all Indian universities and higher education institution,” he had said in his report to the government on corporate participation in higher education.
Thakur also said that the pending bill on higher education designed to allow foreign universities to set up campuses in India is now being referred to the law ministry. He said with foreign universities setting up campuses in India, students from India would benefit. He said education is expensive in the United States and on an average $1.2 trillion students loans are not paid. He said that on an average Indian students spend $ 7 billion on education abroad. “This move could help them immensely,” he said.
Thakur also said there is a need to bridge the trust deficit between industry and academia. He also highlighted the need for the educational institutions to improve their ranking. “Rating may not be that important but one has to start playing this game,” he said.
The Rs 5,000 crore Indian corporate research-and-development fund on the lines of the National Science Foundation in the US is put on the backburner due to slowdown of Indian economic growth, according to Union Ministry of Human Resources Department secretary Ashok Thakur.
Speaking after inaugurating the Human Resources conclave organized by Indian Institute of Management Tiruchirappali here on Friday, Thakur said that the Rs 5,000 crore corporate research and development fund, which was one of the recommendations made by the N R Narayana Murthy Committee on Corporate Sector Participation in Higher Education will not materialize soon.
“This was conceived when the economy was doing good. But now with the slowdown of the economy, the fund for promoting active collaboration between Industry, government and academia won’t be happening,” he said.
Narayana Murthy has suggested that the fund should be created by the central government and the corporates operating in India. “Such a fund operating with a transparent and merit based funding mechanism can act as a huge fillip for research and development in all Indian universities and higher education institution,” he had said in his report to the government on corporate participation in higher education.
Thakur also said that the pending bill on higher education designed to allow foreign universities to set up campuses in India is now being referred to the law ministry. He said with foreign universities setting up campuses in India, students from India would benefit. He said education is expensive in the United States and on an average $1.2 trillion students loans are not paid. He said that on an average Indian students spend $ 7 billion on education abroad. “This move could help them immensely,” he said.
Thakur also said there is a need to bridge the trust deficit between industry and academia. He also highlighted the need for the educational institutions to improve their ranking. “Rating may not be that important but one has to start playing this game,” he said.
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