GOVERNMENT TO CONTRIBUTE FOR R&D IN SUNRISE OPPORTUNITIES, IN ADDITION TO EFFORTS OF COLLABORATION AMONG ACADEMIA, INDUSTRY AND PUBLIC INSTITUTIONS

Acknowledging the immense potential of Sunrise Opportunities, the Union Budget presented in parliament today by Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman, has stated that supportive policies, light-touch regulations, facilitative actions to build domestic capacities, and promotion of research & development will guide the government’s approach.

While presenting the budget Smt Nirmala Sitharman highlighted that for R&D in these sunrise opportunities, in addition to efforts of collaboration among academia, industry and public institutions, government contribution will be provided. She said that Artificial Intelligence, Geospatial Systems and Drones, Semiconductor and its eco-system, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems have immense potential to assist sustainable development at scale and modernize the country. They provide employment opportunities for youth, and make Indian industry more efficient and competitive.

 

Government contribution for R&D in sunrise opportunities to accelerate innovation via policy support and collaborative frameworks. The document states a policy commitment to provide government contribution for R&D in sunrise opportunities, paired with supportive policies, light-touch regulation, and domestic capacity building, implemented through collaboration among academia, industry and public institutions, targeting strategic sectors such as artificial intelligence, semiconductors, genomics, space economy, geospatial systems and green and clean mobility technologies to foster sustainable development and competitiveness.