Industry should make use of Rs 1-trn ANRF fund: Goyal

New Delhi: Union Commerce and Industry Minister Piyush Goyal on Thursday urged the industry to utilise Rs1 lakh crore Anusandhan National Research Foundation (ANRF) fund to foster innovation and create a research-based ecosystem in the country.

The talented youth should also be tuned to the mindset of experimenting and developing new ideas under this government initiative, Goyal said during his keynote address at the Federation of Indian Chambers of Commerce and Industry’s (Ficci) event in the national capital.

“The initiative will help India develop the research and development ecosystem and will evince interest from the industry leaders,” he said and urged the participants to provide suggestions in making the processes to get funds outcome-oriented and time efficient.

He also advocated bringing in private sector institutions to be part of the industry-academia-government partnership in fostering innovation and collaboration with the industry to meet the needs of the people and spur exports.