The Central government will shortly unveil a new Research and Development (R&D) policy that seeks to incentivise scientists on monetisation of their innovations.
The new policy will also insist on globally benchmarking the Research & Development ecosystem by getting rid of archaic laws and rewarding scientists through industry-academia linkage.
The government has also decided to encourage continued research towards new drug and molecule discoveries and high-end medical devices, and ensure industry-academia linkage to translate research into development and commercialisation of technologies.
The new R&D Policy will seek to focus on benchmarking the R&D ecosystem, coordination among research institutes and recognising scientists.
The government is also working on a similar scheme for pharmaceutical formulations refusing to divulge further details as details of the scheme were at infancy stage.
Three large bulk drug parks with a focus on R&D and with centres of excellence will come up in three states, each with an allocation of Rs 1,000 crore from the Centre, based on competitive land prices and power tariffs to be offered by states.
Already 13 Indian states have submitted their requests and the Central government would finalise locations based on a challenge mode by evaluating low land and power tariffs, incentives and easy clearances by states.
The three large challenge mode-based bulk drug parks with R&D centres of excellence are in addition to the PLI scheme benefits to help the industry gain an advantage to lower their costs of production and remain competitive by accessing centralised/common infrastructures of the bulk drug parks. – Projects Today