FICCI Hosts Bharat R&D Summit 2024 to Drive Industry-Academia Synergy for Innovation

New Delhi, October 4, 2024:

In a concerted effort to strengthen partnerships between academia and industry, the Federation of Indian Chambers of Commerce & Industry (FICCI) today hosted the Bharat R&D Summit 2024 in the capital. The high-profile event saw participation from leaders across government, industry, and educational institutions, all keen to explore how collaboration can bolster India’s research and innovation landscape.

The summit also saw the unveiling of a FICCI compendium, showcasing a range of technologies that are ready for commercialization. The focus of the discussions revolved around making India a global hub for innovation and ensuring the nation avoids the middle-income trap through effective research outputs. Read also: Mode Retails Showcases Indian Culture Through Luxury Incense at UP International Trade Show

A Call for Closer Industry-Academia Ties

FICCI’s Director General, Jyoti Vij, set the tone for the summit with a passionate call for more tangible outcomes from research efforts. “India has made great progress in the innovation space,” she said, “but we need to deepen the collaboration between industry and academia. This is essential if we are to move towards our goal of a ‘Viksit Bharat’ and stay competitive on the global stage.” Read also: Sanjeev Kumar Honored with Prestigious Gold Medal for Outstanding Contribution to Numismatics and History

Dr. Akhilesh Gupta, Senior Advisor to the Department of Science and Technology, emphasized the critical role public-private partnerships can play in advancing research. “Bridging the gap between invention and commercialization requires stronger private sector involvement. There’s untapped potential in our industry-academia synergy, and it’s time we unlock it,” he said.

Dr. Akhilesh Gupta, Senior Advisor to the Department of Science and Technology, visiting the exhibition

NEP 2020: A Step Towards Multidisciplinary Learning

One of the highlights of the summit was a discussion on the role of the New Education Policy (NEP 2020) in driving innovation. Professor Sudhir Kumar Barai, Co-Chair of the FICCI Innovation Committee, pointed out how the policy encourages multidisciplinary learning and opens up avenues for initiatives like the ‘Professor of Practice.’ These steps, he noted, are helping to bridge the divide between what’s taught in classrooms and what’s required in the industry.

Meanwhile, Ms. Anandi Iyer, Co-Chair of the FICCI Innovation Committee and Director of the Fraunhofer India Office, spotlighted the importance of applied research. “India needs research models that don’t just end up in journals, but lead to real-world applications. Fraunhofer’s model is a great example of how we can make innovation work for the industry,” she remarked.

Exhibition of Breakthrough Projects

The summit also featured an exhibition of over 50 research projects, showcasing India’s growing potential in various sectors. From healthcare to green energy, the exhibition reaffirmed that India’s talent pool is ripe with ideas waiting to be harnessed by the private sector.

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