New Delhi, Aug 26 (KNN) The Foreign Direct Investments (FDI) in Research and Development (R&D) should not be looked only in the mega cities but go beyond tier-1 cities by investors, said Prof Ajay Kumar Sood, Principal Scientific Adviser to Govt of India (GoI) on Thursday.

He emphasized on the need to include more R&D in newer technologies especially quantum technologies.

“This area needs enormous R&D push, and it has tremendous business value including areas like quantum communication, quantum computing, etc,” said Sood addressing the national seminar on ‘FDI in R&D- Making India R&D Hub’.

The event was organized by FICCI jointly with the Office of Principal Scientific Advisor to Govt of India, said a press release.

He also highlighted the investment opportunities in R&D and said that we have a lot of opportunities not only in big cities but small cities and towns as well.

“Tier-2 and 3 areas have a lot of talent apart from tier-1 cities. There are a number of institutes with huge human capacity available and FDI in R&D should not be looked only in the mega cities but go beyond tier-1 cities by investors,” he added.

Sood also asserted on the need for the youth to get involved in this process.

Speaking at the valedictory session, Ratan P Watal, Chairman, Central Vista Oversight Committee said that it is imperative to focus on three key areas to make India a hub for R&D which include measuring R&D; having a National Innovation Index while we look at global indices and a robust Science & Technology Policy.

“There is a huge opportunity which awaits us especially in the changing geo-political environment in the world, we need to have a National Innovation Index for the states in India. We should also focus on having a robust Science & Technology Policy,” he added.

Dr Parvinder Maini, Scientific Secretary, GoI; Manmeet K Nanda, Joint Secretary, DPIIT; Kaspar Meyer, Head of Science and Technology Section, Embassy of the Federal Republic of Germany in India; Sanjiv Mehta, President, FICCI and BN Satpathy, PSA, Fellow, Office of Principal Scientific Advisor to GoI also spoke at the seminar.  (KNN Bureau)