Tech Research and development fund on anvil

“The complete contribution of Rs 5,000 crore to this fund will be made by government. The objective of this fund is to develop an eco-system to boost manufacturing in the country,” said R Chandrashekhar, Secretary, Department of Telecom, who also holds additional charge of Secretary, DIT.

He said that the guidelines for the use of fund are yet to be worked out. He mentioned that government will look for participation from the industry as well and works out ways of using this fund with companies and entrepreneurs in India.

“We will use resources from institutions like IITs and also look for contribution of human resource from industry as well to collectively take the objective forward,” he said. Chandrashekhar also mentioned that DIT is working on two special incentive package for boosting manufacturing in the country.

“There two SIPS that are being worked out. One SIP will focus on semiconductor fabrication units and the other will include packages for other electronic products be it television, mobile phones or other consumer items,” he said.