There is no point in doing Research and Development just for the sake of doing it. There has to be a linkage to marketability of projects being undertaken. R&D for developing new technologies and products has to be driven by the future value of the outcomes. Till the time, the R&D in steel industry in India attains international levels, we should go in for international collaborations and adopt the best and most efficient technologies. Let us not limit R&D to little tinkering here and there to improve quality and so on. Let us think big in terms of transformational technologies and new breakthroughs. The PM was mentioning the other day that to compete in a globalized world, we need to aggressively push for path-breaking innovations and get them patented." This was stated by the Union Steel Minister Shri Chaudhary Birender Singh, in a review meeting with senior officials from Ministry of Steel and its PSUs. The Minister of State for Steel Shri Vishnu Deo Sai and the Secretary Steel Dr. Aruna Sharma were among those present on the occasion.
Shri Birender Singh was reviewing the progress of Steel Research and Technology Mission of India (SRTMI), which has been registered as an institution to lead the research and development in steel in the country.
He advised that the institution should grow as a single umbrella body for all steel-related research and development in India. It should set up a body for promoting higher education in steel making and related disciplines, he added. Steel Minister also shared that the Ministry has proposed to consider expenditure on R&D as a part of CSR expenditure, which if implemented would encourage companies to do research on cost-effective, environment-friendly and energy-efficient technologies and processes.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)