'Research in India', Contracted Foreign Defence Firms Told

Published: 29th December 2015 04:10 AM  |   Last Updated: 29th December 2015 04:33 AM   |  A+A-

NEW DELHI: Research in the country is set to get  much-needed boost, with a NITI Aayog-set up expert committee suggesting that all defence contracts worth over $5 billion should earmark five per cent of the contract value to establish research-centric universities in the country. India Inc too should set aside one per cent profits for research labs in universities, the committee has proposed.

With the aim of promoting universities as hubs of research, the committee on ‘innovation and entrepreneurship’ has recommended steps like encouraging professors to be stakeholders or partners in entrepreneurial and incubation ecosystems in universities by offering  ‘faculty entrepreneurial fellowships’.

“In addition to monthly stipends, perks could include time-off from teaching responsibilities, talent resource from student pool and more,” the committee suggested in its report.

The committee, headed by noted academician Tarun Khanna, was set up to suggest ways to promote innovation and build an entrepreneur-friendly ecosystem to drive job growth.

It has recommended a ‘Make in Universities’ programme which would involve setting up 500 tinkering labs, and said that international or home-grown education innovators (both private and public) should be allowed access to schools and universities in India.

The committee has recommended that all contracts with foreign defence companies worth above $5 billion should include a clause for 5 per cent of contract value to be directed to establish research centric universities.

The panel also suggested that one per cent of corporate profit could be directed towards research labs in universities, and said the government could provide tax benefits against this.

All universities in India should also be allowed to offer online education, available across states.

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