Essay on the Research and Development in Indian Industry
With the establishment of the Indian Council of Scientific and Industrial Research, which had Research and Development by Industry (RDI) as one of its first schemes, the Council’s undertaking numerous activities in the field of industrial research provided a strong technological infrastructure to industry in the country.The Council’s activities covered a chain of national laboratories, specialised centres, various R&D and academic institutions and training centres. A scheme for granting recognition to in-house R&D units in industry operated by the Department of Scientific and Industrial Research was initiated.The incentives and support measures made available to recognised in-house R&D units in industry were: (i) Income Tax relief on R&D expenditure, (ii) Weighted Tax Deduction for sponsored research, (iii) Customs Duty exemption on goods imported for use in government-funded R&D projects, (iv) Duty…