The Hindu : Economic advisor for more R&D spending by companies

Online edition of India's National Newspaper
Wednesday, Mar 17, 2004

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Economic advisor for more R&D spending by companies

By Our Special Correspondent

NEW DELHI, MARCH 16. The Economic Advisor to the Prime Minister, S. Narayan, urged the industry to incorporate greater focus in research and development.

"The balance sheets of the companies suggest that the total spend on R&D is not enough. Once investments increase, larger creativity and commercial value would emanate from these organisations," he said while inaugurating the ICC-India FICCI-IIPD organised `International Conference on Intellectual Property Policy: Research and Innovation in Developing Countries'. He reminded that the vision of the Government is to provide incentives to all such efforts. Some of the sectors that are likely to attract more of such Government support are engineering and chemicals among others.

Mr. Narayan also called for greater partnership between the industry and the research labs. "The relationship should not be merely of technical borrowing but be complementary to each other".

Saying that the cost of research in developing countries and particularly India is comparatively less, he said this could go a long way in converting the laboratories into a `market'. On the issue of Patents, he felt that the same did not lead to a monopolistic regime. "It only gives a temporary control but the knowledge becomes public," he said. Furthermore, he said this knowledge in the public domain became an opportunity for growth in future.

The conference precedes the meeting of the International Chamber of Commerce (ICC)-Intellectual Property Commission taking place in India for the first time. Urho Ilmonen, Chairman, ICC Intellectual Property Commission & Director, Corporate Relations, Nokia Corporation, said that ICC would soon launch an Intellectual Property roadmap for business and policymakers. He said that in order to maintain the political, economical and sociological balance, IP laws should recognise the need for appropriate limits. Vigorously protecting intellectual property while maintaining a fair balance between the interests of various stakeholders is in the interest of all.

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