He highlighted the need to collaborate in the field of renewable energy to develop cost-effective and efficient products that will have wider access and minimum carbon footprint.
"India and the US have started to address grand challenges through science.
"The two countries are already working together in the areas of health and biomedical sciences, food security, clean energy, integrated water management and weather forecasting. New collaborative R&D programs on low-cost diagnostics, next- generation vaccines, brain research, cancer research, high energy physics, and emerging materials were on the anvil," he said.
"There is a need to collaborate in the field of renewable energy to develop cost-effective and efficient products that will have wider access and minimum carbon footprint. It is important to develop an innovative clean technology development fund using a consortia approach and PPP model," he said.
The minister said the government is expected to invest in renewable energy projects in a major way over the next five years alone and invited the US companies to take advantage of this opportunity.
He said there is a need to work quickly to take advantage of the demographic dividend in India.
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