Indian Institute of Corporate Affairs organised Roundtable consultation

The consultation aimed at enhancing commitment, improving reporting practices, and fostering collaboration for impactful R&D endeavours.

Indian Institute of Corporate Affairs organised Roundtable consultation

New Delhi: A roundtable consultation, organized by the School of Business Environment at the Indian Institute of Corporate Affairs with support from the Office of the Principal Scientific Adviser to the Government of India, focused on "Research & Development (R&D) Expenditure by top 1000 listed companies in India."

Prof. Ajay Kumar Sood, Principal Scientific Adviser, Government of India, stressed strategic investment in R&D for fostering creativity and maintaining competitiveness. Dr. Ajay Bhusan Pandey, Director General & CEO, the Indian Institute of Corporate Affairs mentioned how adopting ESG (Environmental, Social, and Governance) reporting frameworks is changing companies' approach towards fostering ESG-led investment practices. Similarly, it could catalyze similar growth in India’s R&D landscape.

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Dr. Parvinder Maini, Scientific Secretary,  PSA, urged increased private sector participation in R&D investments for sustainable growth. Shri Sunil Kumar, Additional Secretary, Department of Science and Technology, proposed bifurcating the public-private companies’ database specifically for the R&D sector, enabling targeted interventions and informed decision-making. Shri Inder Deep Singh Dhariwal emphasized R&D investment as a duty to the nation's future. Key recommendations included a dedicated web portal for real-time R&D data management, corporate sensitization on R&D importance, standardized definitions, and possible mandatory disclosures.

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Shri Inder Deep Singh Dhariwal, Joint Secretary, Ministry of Corporate Affairs urged the corporate community to honour this legacy by investing in R&D, not merely as an obligation but as a sacred duty to our nation’s future. Shri B.N. Satpathy, PSA Fellow, PSA also address the participants. 

The consultation aimed at enhancing commitment, improving reporting practices, and fostering collaboration for impactful R&D endeavours. The Office of the Principal Scientific Adviser commissioned a study on R&D expenditure by top 1000 listed companies in India to the Indian Institute of Corporate Affairs.

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