30/01/2021
https://www.newindianexpress.com/business/2021/jan/30/economic-survey-2021-focus-on-rd-jugaad-can-take-you-only-this-far-2256900.amp
For businesses to focus more on R&D as claimed in the late Economic Survey it’s the government that should come forward and setup more and more Universities. Take US and UK for instance where lot of R&D actually take place in big universities. Universities should be funded liberally by both the government, the industry and of course by the tax paying citizen. Donations to universities for R&D should be exempted from tax. In Australia for instance in Melbourne alone there are 8 big Universities and 4 of these universities have more than 3 campuses in different parts of Melbourne with each campus dedicated to a few departments. Right now we only have Max of 3 to 5 Universities in selected few cities. The funding for existing universities should be increased and new universities on large scale should be set up in small towns and villages. Likewise in India also the government should setup more and more new universities with latest infrastructure in several cities. Industry should be granted tax exemptions and incentives to come forward and setup their own Universities. Why can’t we have Universities setup by the TATA group, Reliance group and Mahindra group in automotive, retail, petrochemicals, finance and so on. Allocate 50 acres of campus to each university in say 100 Kms away from the city where land is easily available for the new universities to set their campus. Let the universities compete in R&D and innovation. These new universities should be well connected with metros and express ways for easy accessibility. Such measures will in the long term lead to better R&D.
On the brighter side, India improved its ranking on the Global Innovation Index (GII), entering the list of world’s top 50 innovating countries, ranked at 48.