New Delhi, Oct 4 (KNN) Union Minister of State (Independent Charge) Science & Technology, Jitendra Singh on Tuesday said that the Green Economy is going to be new addition to India’s future growth and StartUp avenues.

During the “Green Ribbon Champions” Conclave, Singh said that the Industry stake in StartUps and Research & Development ought to be from the very beginning.

“Green Financing with a larger industrial engagement and Industry involvement is required right from the beginning because it is my considered view that otherwise you cannot move forward beyond a certain point,” he said.

The union minister added, “In 2014, India’s bio economy stood at just about USD 10 Billion, today it is USD 80 Billion. In just 8/9 years it has gone (up) 8 times and we look forward to having USD 125 Billion by 2025.”

Singh highlighted that the Anusandhan National Research Foundation (NRF), announced by Prime Minister Narendra Modi, will have huge non-government resources.  “As a result, the demarcation between the Public and Private sector will be done away with and there will be greater synergy for future growth,” he said.

“National Research Foundation will also act as a think tank, it has the mandate of even deciding the themes on which the projects have to be undertaken and funded depending on the requirements or the futuristic visions/projections, also (deciding on) the international collaborations,” he said, adding, “the NRF will have a more scientific approach so that the Innovation doesn’t get lost in the din of times.

Anusandhan NRF Act was passed by the Parliament in the recent Monsoon session, with a budget of Rs.50, 000 crore over five years.  (KNN Bureau)