Union Commerce and Industry Minister Piyush Goyal on Thursday encouraged businesses to utilize the Rs 1 lakh crore Anusandhan National Research Foundation (ANRF) fund to foster innovation and create a robust research-driven ecosystem in the country.
Speaking at an event organised by Federation of Indian Chambers of Commerce and Industry’s (FICCI) event in the national capital, Goyal emphasized the need to cultivate a culture of experimentation and idea development among the youth under this initiative.
“The ANRF will significantly enhance India’s research and development capabilities while generating greater interest among business leaders,” he said, urging participants to suggest ways to streamline the fund’s application processes to ensure efficiency and outcome orientation.
Highlighting the importance of public-private partnerships, Goyal advocated for stronger collaboration between government institutions, academia, and the private sector to spur innovation, boost exports, and address societal needs.
He praised transformative government initiatives such as Digital India, Ayushman Bharat, and Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), attributing them to India’s rapid economic transformation.
Additionally, the Minister lauded FICCI’s Excellence in Swachh Industry Parks award, noting that cleanliness is closely linked to economic development, job creation, and sustainability.
Calling for higher quality standards, Goyal urged FICCI to engage its technical committees and appoint industry representatives to ensure practical and enforceable benchmarks. “This approach will position India as a global supplier of high-quality goods and services, reinforcing its reputation as a trusted partner,” he said.
The Minister also appealed for closer cooperation in reducing compliance burdens and decriminalizing business-related laws, underscoring their role in improving the Ease of Doing Business in India.
“FICCI must act as a critical feedback mechanism to help the government refine its policies and enhance outcomes,” Goyal added.
(Inputs from IANS)