Revolutionizing Research: Private Sector's Role in India's Innovation Future

Union Education Minister Dharmendra Pradhan has urged the private sector to intensify its funding contributions to research and innovation in India. Speaking at the inauguration of the IIT Madras Technology Summit 2026, Pradhan emphasized the necessity for industry participation to match the existing government funding.

Currently, around 70% of research investments in India are sourced from government support, which Pradhan considers an unhealthy balance. He suggested that a more equitable distribution, aiming for a 50-50 contribution between the government and industry, would be beneficial.

Highlighting the government's initiatives, Pradhan pointed out an allocated Rs 1 lakh crore for research and innovation, boosting startups. He praised India's improved position in the Global Innovation Index and noted the country's goal of becoming a developed nation by 2047, emphasizing the global influence of the Indian model.

(With inputs from agencies.)