Inter-ministerial discussions for an intensive technology startup policy are in the final stages and will be implemented soon. Secretary of the Department of Industrial Promotion and Internal Trade, Rajesh Kumar Singh gave this information on Monday.
He said at the Startup Mahakumbh here that startup units should convert their innovations into intellectual property rights for the benefit of the country and themselves.
This can be done through extensive research and development. Singh said, ‘The Government of India is making a separate intensive technology startup policy. The draft policy is now in the final stages of inter-ministerial discussions. We hope that it will be brought soon. We will move towards creating a bigger fund. Hopefully you will see a separate arrangement for intensive technology startups.
The Prime Minister’s Science, Technology and Innovation Advisory Council (PM-STIAC) in its 21st meeting on July 7, 2022, had proposed a broad policy framework in this regard and recommended the formation of a working group. Singh said that a provision of Rs 1 lakh crore has been made for research and development (R&D) in the interim budget.
“We hope that DPIIT can play the role of an intermediary between the business sector and the startup community,” he said.
First Published – March 18, 2024 | 9:45 PM IST
(Business Standard staff has changed only the headline and photo of this report; the rest of the news has been published without any changes from a shared news source.)
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