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Time of India
2 hours ago
- Business
- Time of India
Third regional consultation on Ease of Doing R&D concludes at IIT Jammu with strategic roadmap for reform
While India 's investment in research and development (R&D) has continued to increase in the last decade, the country's expenditure as a percentage of GDP remained between 0.6% to 0.7%, government data shows. To enhance R&D and develop an ecosystem that is agile, innovation-driven, and future-ready, The Indian Institute of Technology ( IIT ) Jammu, in collaboration with NITI Aayog , hosted the third edition of the Regional Consultative Meeting on Ease of Doing Research and Development (R&D) on 14–15 July 2025 at its Jagti campus. The two-day summit was a part of a broader national initiative to reform and reimagine India's R&D ecosystem through regionally grounded, high-level stakeholder engagement. The event was inaugurated by Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology and Minister of State in the Prime Minister's Office. Singh attended as the Chief Guest, reaffirming the Government of India's commitment to scientific advancement and research-led national growth. According to a statement, also present were Dr. V.K. Saraswat, Member, NITI Aayog; Prof. Manoj Singh Gaur, Director, IIT Jammu; Prof. Vinod Kumar Singh, President, The National Academy of Sciences, India; and Prof. Vivek Kumar Singh, Senior Adviser, NITI Aayog, alongside senior representatives from scientific ministries, funding agencies, and over 50 research institutions, laboratories, and Higher Education Institutions (HEIs) across Jammu & Kashmir, Ladakh, Himachal Pradesh , and Punjab. According to Government data, India's R&D spending doubled in the last one decade from Rs 60,196 crore in 2013-14 to Rs 1,27,381 crore and is shaping the future economy of India which will be defined by homegrown innovations in artificial intelligence, biotechnology, and quantum computing. According to the latest Economic Survey, while government R&D policies and interventions have been making sustained efforts, there is a need for more contribution from the private sector. The funding for R&D in India is predominantly sourced from government entities. Live Events In contrast, the Survey says in most developed and emerging economies, business enterprises contribute over 50 percent to the GERD. In countries like China, Japan, South Korea, and the USA, this share exceeds 70 percent. In the USA, the private sector leads, with companies like Google and Amazon accounting for about 70 percent of R&D spending. China, on the other hand, has a combination of major government funding with rising private sector involvement, leading to R&D spending of about 2.1 per cent of its GDP. The consultative meeting is part of a multi-city initiative undertaken by NITI Aayog to gather actionable inputs from heads of R&D institutions, higher educational Institutions (HEIs), and Universities. Around 40 leaders from across Jammu &, Kashmir, Ladakh, Himachal Pradesh, and Punjab are participating in this third regional consultation. The key objective of the meeting was to deliberate on policy and procedural bottlenecks that hinder research productivity and innovation in India. The discussions are designed to focus on the simplification of procurement and financial systems, autonomy in institutional decision-making, and improved research infrastructure and funding frameworks. It also looked at ways to enhance inter-institutional and industry-academia collaborations and capacity building in emerging geographies outside metro-centric ecosystems According to a statement, this regional dialogue builds upon the foundations laid during the earlier consultations at Raj Bhawan, Lucknow (May 2025) and CSIR–Indian Institute of Petroleum, Dehradun (June 2025). The insights generated during the Jammu meeting will feed into a national-level reform blueprint being developed by NITI Aayog for the future of Indian R&D. Participants emphasized the importance of aligning national R&D objectives with global benchmarks while ensuring inclusivity across regions and institutions. Several speakers called for policy innovation to bridge the gap between research and commercialization, alongside improving ease of access to funding and reducing procedural delays. In his address, Saraswat, emphasized on the strategic importance of enabling policy reforms to ease systemic bottlenecks, while professor Gaur, praised the collaborative initiative and emphasized the critical need to streamline research ecosystems across institutions. Professor Singh, who is a Senior Adviser at NITI Aayog, elaborated on the objectives of the national-level initiative. He outlined the key dimensions being explored under the Ease of Doing R&D initiative. According to a statement the meeting featured insights from a diverse group of eminent speakers and focused thematic discussions aimed at strengthening the country's research landscape. Discussions included strategies to accelerate R&D in academic institutions by enhancing infrastructure, fostering interdisciplinary collaboration, and improving access to funding. Deliberations also addressed the need to empower R&D personnel through reforms in recruitment, retention, and capacity-building mechanisms, enabling them to undertake cutting-edge research. Another key focus area was the translation of academic research—publications and patents—into marketable products, emphasizing the promotion of industry-academia linkages and incentivizing innovation. The sessions also explored critical policy reforms and systemic changes required to enhance the overall ease of doing R&D in India. In India, incentives like grants, loans, tax exemptions, patent-related incentives etc. are given for R&D. In addition to these incentives, initiatives like Start-Up India, Digital India, and the Atal Innovation Mission have been introduced to foster entrepreneurship, research, and technological advancement. To provide financial support to industries, the government has also created the Technology Development Board. Many state governments provide stamp duty waivers and concessions, and soft loans.
Canada News.Net
12 hours ago
- Business
- Canada News.Net
India's exports to remain unchanged in key product categories despite US tariffs: NITI Aayog Report
New Delhi [India], July 15 (ANI): India's export status is expected to remain unchanged, as the trade data indicates strong growth opportunities in selected key product categories, according to the quarterly trade watch by government think tank, NITI Aayog. 'The data suggests strong growth opportunities in targeted product categories while highlighting areas where India's export status is expected to remain unchanged,' the report added. NITI Aayog further stated that India stands to gain a significant edge in the US export market, which highlights strong growth potential in key product categories and a favourable trade environment vis-a-vis China. The trade report reveals that India maintains a relatively strong and competitive position in the US market, despite facing slightly higher tariffs. More notably, India enjoys a distinct advantage over China in several critical sectors. The average tariff differential between Indian and Chinese exports stands at a significant 20.5 per cent in India's favour. The Think Tank stated that India maintains a relatively strong and competitive position in the US market despite facing marginally higher tariffs. NITI Aayog stated that analysing the top 30 product categories at the HS 2 level reveals insights into India's tariff positioning in the US market. Tariffs on the competitors are higher than India's in 22 out of these top 30 products. In 6 of the top 30 categories, India faces slightly higher average tariffs, up to 3 per cent, than other leading exporters, with the majority of them with marginally higher tariffs between 0 and 2 per cent. These specific product categories account for over 12 per cent of total US imports, underscoring the scale of opportunity available for Indian exporters. 'Additionally, these differences are modest and present a strategic opportunity for India to engage in targeted negotiations with the United States,' the report added. It further added that the lower tariff burden presents India with a unique opportunity to gain market share, especially in categories where China is losing its competitive footing. The findings come amid shifting global trade dynamics, where businesses are looking to diversify supply chains away from China--a trend often referred to as 'China+1'. Earlier US President Donald Trump on April 2 of the current year announced reciprocal tariffs on trading partners, which were designed to address trade imbalances and implement 'fair and balanced' trade relationships, as termed by the US President. Trump on Saturday announced a 30 per cent tariff on goods from Mexico and the European Union starting August 1, intensifying trade tensions with two of the country's top economic partners. This week, Trump has posted multiple letters on the social media platform Truth Social, warning more than a dozen countries that he plans to impose steep tariffs on their imports starting August 1. The Hill highlighted that these tariffs were originally proposed in April but were paused for 90 days to allow for negotiation. India is negotiating a free trade agreement with the US, and talks are going on between the trade representatives of both nations in US (ANI)
Time of India
16 hours ago
- Business
- Time of India
NITI Aayog to award study on maximising non-fare revenue for Indian Railways
NITI Aayog will soon come up with a roadmap for Indian Railways to maximise non-fare revenue with focus on asset monetisation, enhanced public-private-partnership in station redevelopment and identifying new sources of revenue generation. The government's think-tank has invited expressions of interest for conducting a research study on 'non-fare revenue maximisation for Indian Railways'. The non-fare revenue of Indian Railways stood at Rs 686.86 crore in 2024-25 compared to Rs 588.07 crore in 2023-24, just 3% of its total revenue compared to 34% in Deutsche Bahn (Germany), 30% in Japan Railways and 10% in France National Railway Company. 'Indian Railways (IR), a vital backbone of India's economy, primarily generates revenue from freight and passenger operations . However, in line with the vision for a self-sustaining and commercially vibrant railway network, non-rare revenue (NFR) generation has emerged as a crucial strategic focus,' the Aayog said in the public notice put out on Tuesday. The objective of this study is to enable Indian Railways to significantly enhance its non-fare revenue streams, thereby improving financial sufficiency and reducing reliance on traditional revenue sources. The duration of the study is six months from the date of the award of the study. This study is expected to undertake a comprehensive and data-driven analysis to identify, evaluate, and propose actionable strategies for maximising NFR, aligning with NITI Aayog's vision for efficient resource utilisation and accelerated economic growth. Besides, it will also identify underperforming assets or initiatives within the current NFR portfolio and analyse reasons for sub-optimal performance. As per the terms of reference, the study will explore untapped potential in IR's assets, such as railway land parcels along tracks, underutilized station platforms (for commercial purposes like coaching classes, small functions), air space above tracks/stations, rolling stock and digital infrastructure (Wi-Fi monetization, data analytics). Besides, it will also identify opportunities for new services that can generate revenue (e.g., specialised logistics and warehousing, last-mile connectivity solutions, value-added passenger services, tourism packages, leveraging railway assets), the Aayog said. 'Evaluate potential for revenue generation from sustainable initiatives (e.g. solar energy generation on railway land/roofs, waste recycling units),' it added.
India Gazette
20 hours ago
- Business
- India Gazette
India's exports to remain unchanged in key product categories despite US tariffs: NITI Aayog Report
New Delhi [India], July 15 (ANI): India's export status is expected to remain unchanged, as the trade data indicates strong growth opportunities in selected key product categories, according to the quarterly trade watch by government think tank, NITI Aayog. 'The data suggests strong growth opportunities in targeted product categories while highlighting areas where India's export status is expected to remain unchanged,' the report added. NITI Aayog further stated that India stands to gain a significant edge in the US export market, which highlights strong growth potential in key product categories and a favourable trade environment vis-a-vis China. The trade report reveals that India maintains a relatively strong and competitive position in the US market, despite facing slightly higher tariffs. More notably, India enjoys a distinct advantage over China in several critical sectors. The average tariff differential between Indian and Chinese exports stands at a significant 20.5 per cent in India's favour. The Think Tank stated that India maintains a relatively strong and competitive position in the US market despite facing marginally higher tariffs. NITI Aayog stated that analysing the top 30 product categories at the HS 2 level reveals insights into India's tariff positioning in the US market. Tariffs on the competitors are higher than India's in 22 out of these top 30 products. In 6 of the top 30 categories, India faces slightly higher average tariffs, up to 3 per cent, than other leading exporters, with the majority of them with marginally higher tariffs between 0 and 2 per cent. These specific product categories account for over 12 per cent of total US imports, underscoring the scale of opportunity available for Indian exporters. 'Additionally, these differences are modest and present a strategic opportunity for India to engage in targeted negotiations with the United States,' the report added. It further added that the lower tariff burden presents India with a unique opportunity to gain market share, especially in categories where China is losing its competitive footing. The findings come amid shifting global trade dynamics, where businesses are looking to diversify supply chains away from China--a trend often referred to as 'China+1'. Earlier US President Donald Trump on April 2 of the current year announced reciprocal tariffs on trading partners, which were designed to address trade imbalances and implement 'fair and balanced' trade relationships, as termed by the US President. Trump on Saturday announced a 30 per cent tariff on goods from Mexico and the European Union starting August 1, intensifying trade tensions with two of the country's top economic partners. This week, Trump has posted multiple letters on the social media platform Truth Social, warning more than a dozen countries that he plans to impose steep tariffs on their imports starting August 1. The Hill highlighted that these tariffs were originally proposed in April but were paused for 90 days to allow for negotiation. India is negotiating a free trade agreement with the US, and talks are going on between the trade representatives of both nations in US (ANI)
Mint
a day ago
- Automotive
- Mint
Govt planning incentive scheme to buoy auto parts exports amid Trump tariff shock
Next Story Manas Pimpalkhare , Ayaan Kartik As part of the scheme, the government might consider incentivising manufacturing of specific auto parts that are exported the most such as engine components. Moreover, specific export-oriented fiscal sops might also be introduced. The government might consider incentivizing manufacturing of specific auto parts that are exported the most such as engine components. Gift this article New Delhi: The government has started working on an incentive scheme to boost exports for India's $111-billion automotive components industry amid trade uncertainties unleashed by American president Donald Trump's steep import tariff, three people aware of the development said. New Delhi: The government has started working on an incentive scheme to boost exports for India's $111-billion automotive components industry amid trade uncertainties unleashed by American president Donald Trump's steep import tariff, three people aware of the development said. As part of the scheme, the government might consider incentivizing manufacturing of specific auto parts that are exported the most such as engine components. Moreover, specific export-oriented fiscal sops might also be introduced. The discussion is in initial stages and nothing is finalized about the scheme yet, the people cited earlier said on the condition of anonymity. 'The ministry of heavy industries and the ministry of MSME (micro, small and medium enterprises) have started discussing a new scheme which will benefit Indian automobile component manufacturers, but the corpus of the scheme has not been decided yet," said the first person. 'Discussions have started on making a new scheme for components and eventually the industry will be actively roped in. Currently, there is work going on to identify target products and geographies for export among Indian auto components," said the second person. The US has imposed a 25% tariff on all automobile imports into the country, disrupting global trade, and throwing Indian auto component makers into a fog of uncertainty. India's auto parts makers exported goods worth $22.9 billion in FY25, a rise of 8%. Of this, $7.35 billion worth of goods were exported to the North American region, as per the Automotive Component Manufacturers Association of India (ACMA). The government's move also comes at a time when India's domestic automobile market has overtaken Japan in sales to become the third-largest in the world after the US and China, but the nation's auto parts exports have hovered around the 3-4% of the global export market, according to a NITI Aayog study in April this year titled 'Automotive Industry: Powering India's participation in Global Value Chains". Also Read | Automakers boost South Korean shares higher Queries emailed to the spokespersons of the ministries of heavy industries and MSME remained unanswered till press time. These auto parts manufacturers, a significant number of which are MSMEs, make and export engine components, drive transmission and steering systems. 'In components, we need to leverage our strengths in ICE (internal combustion engine) along with increasing presence in emerging trends like EV (electric vehicle) components and electronification. A lot of markets are open to importing classical vehicle components from India which will help in boosting exports. Any help in exports will help boosting the auto component industry's prospects to achieve the target of $100 billion exports," said Natarajan Sankar, managing director and partner at Boston Consulting Group. India's auto components industry aims to achieve $100 billion in exports by 2030. Top exporters of components from the Indian market include Sona Comstar, Bharat Forge, Uno Minda and Bosch India, among others. India's auto components industry's turnover has doubled from FY20 to FY25 at a compounded annual growth rate of 14%, according to ACMA. In FY25, the component industry's sales to vehicle makers rose 88% to ₹ 5.70 trillion from ₹ 3.02 trillion in the previous fiscal, according to ACMA data. The government's move comes in the backdrop of NITI Aayog's recommendations in April this year for boosting exports of India's auto parts industry. NITI Aayog recommended fiscal incentives to manufacturers to boost their operational and capital expenditure to achieve scale in making engine cylinders, valves and pistons and to procure tools and dies. In a report, the top government policy think tank stated that there should be efforts to attract overseas talent and motivate high-level talent to return to India, as a part of non-fiscal skilling incentives. It noted that India's auto component exports are worth about $20 billion, while imports are worth about the same, resulting in a near-neutral trade ratio of 0.99. But, India's industry faces competitive headwinds compared to China, the report also highlighted. It pointed at cost disabilities of nearly 10% compared to China. Additionally, there is an extra cost disadvantage for India of approximately 20% on equipment (capital goods) required for component manufacturing, compared with China, due to material cost disability, NITI Aayog said. 'China benefits from a well-integrated supply chain, spanning from raw minerals to high-value-added products, whereas India lacks such depth in its supply ecosystem," said the report. The report also set a target of auto parts production worth $145 billion and exports worth about $60 billion by 2030. But, manufacturers face tough times as the effectiveness of schemes to boost auto parts productions are often misaligned with the specific needs of the sector, the report noted. 'Indian companies and components face a cost handicap of 10% and to bridge this gap, there is a need to provide fiscal incentives for auto component manufacturing," said the report. Earlier, prime minister Narendra Modi, at the launch of the Digital Mobility Initiative for Automotive MSMEs in February 2024, had said that the significance of the automobile industry to the nation's economy is mirrored in the role played by MSMEs within this sector. 'Today, components manufactured by Indian MSMEs are integrated into vehicles worldwide, opening doors to numerous global opportunities," he had said. The government's focus on the auto components sector also comes amid a rapid shift towards cleaner powertrains in vehicles. The shift towards cleaner fuels to decarbonize the auto sector is apparent, with the sales of electric vehicles in India rising 17% in FY25, considerably higher than the 4% sales growth in petrol and diesel vehicles during the same period. Topics You May Be Interested In Catch all the Auto News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
