Research and Development sector is pivotally important for the overall revenue of any economy. Once a nation learns to consistently come up with breakthroughs and find efficient ways to commercialize it, the overall scenario knocks on the doors of national development to unimaginable extents.
The Department of Electronics and Information Technology (DeitY), keeping in mind the multifarious benefits of R&D, is implementing the Multiplier Grant Scheme or the MGS.
The Prime Objective of MGS
The MGS aims to bring together various R&D firms from across the nation to pool in resources so that the cumulative result is beneficial to the overall GDP of the country. It aims to bridge the R&D factions from industries and academics to achieve a higher quality of production and packaging.
An overview of the Objective of MGS
- One of the main objectives of MGS is to bridge the gap between industry and institutes and to nurture that connection over time.
- It also aims to promote industry-oriented R&D at institutes so that young minds get to channelize their potentials at an early age.
- The prime objective of MGS happens to be filling the gap between R&D / Proof-of-concept and commercialization and globalization.
Updates on the scheme
The total outlay of the scheme is ₹36 crores, for which the scheme is extended up to March 2020. DeitY aims to contribute ₹24 crores to the said outlay. The Technological Development Council (TDC) budget head will be used for the implementation of this scheme.
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