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The ability to innovate and deploy globally competitive technologies has been recognized as the next key driver of global economic change in the emerging knowledge economy. While science is scholarship driven, technology and innovation are market and competition driven, respectively. Currently, Indian Research and Development landscape is largely influenced by the character of public funded research and selection of RD from creation to commercialization and value creation. Thiswould call for paradigm shifts in approaches of planning for R&D in India during the Twelfth Five Year Plan period.

Trend & Mind-Set that India’s Central Science & Technology Sector & Further Need