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Advani urges Indian firms to focus on R&D

Deputy Prime Minister Lal Kishenchand Advani asked the Indian industry to intensify research and development efforts for achieving world-class efficiencies in sunrise sectors like information technology, pharmaceuticals, bio-technology, chemicals and petro-chemicals.

''We must combine swadeshi spirit and global efficiencies to make India a developed country by year 2020,'' he said while inaugurating India Chem 2002, a four-day international exhibition and conference beginning in New Delhi on Wednesday. ''Let this be a national dream, a national passion, '' he said.

Advani called for synergy between the government and private sector. He said businesses worldwide have now become knowledge-based and India must leverage its skilled manpower to emerge as an economic powerhouse.

With a large number of scientists, engineers and technicians in various sectors, the country has potential to become a model in research and development for other countries to emulate. The government, Advani said, will do its part to improve social and industrial infrastructure with focus on world-class roads, ports and airports across the country.

He said new drug discoveries by Indian pharmaceutical companies have led to original drugs and drug formulations. The circumstances are right for them to lead in digitally-designed medicines. In the field of bio-technology as well, he said, domestic companies have made impressive forays.

Petro-chemicals is another sector that holds great promise for the future. The per capita consumption of plastic and synthetic fibre in the country is much lower than the world average, Advani said. This is in spite of an annual growth of 14 to 15 per cent.

''India has shown that it can put up huge plants in record time. It therefore becomes a sector that should be attractive for global investment and for setting up joint ventures.''

UNI

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