UK-India extended a fund of £150 million for joint research collaboration in both the countries. And, this fund is offered jointly by United Kingdom’s Biotechnology and Biological Sciences Research Council (BBSRC) and India's Department of Biotechnology (DBT).
During the commemoration of Research and Innovation week from November 11 to 15, this fund was announced, which held in New Delhi.
Chief scientific adviser to the UK Government, Sir Mark Walport told India and the UK share excellent partnership research and innovation initiatives. He further added that, the UK's research community brings 14% of the world's most highly cited research papers and publications.
Hosted in cooperation by British High Commissioner to India, Sir James Bevan, KCMG, and Walport, the event celebrated the Research Councils UK India's fifth anniversary which also held at the British High Commission in New Delhi.
Professor Paul Boyle of RCUK International Champion informed the shared research programme has strengthened from an almost zero base prior in 2008 to present £150 million now, currently financially supporting more than 80 finest and top-quality research projects that involve more than 90 industry partners which will continue to grow.
The collaborative Industrial R&D Programme by India-UK was started with purpose to develop original products and services aiming to bring economic and social benefits.
Up to £5 million new funding from the UK's innovation agency - Technology Strategy Board with coordinated with resources from India's Department of Science Technology (DST) has been declared for industrial R&D collaboration to support business-led projects between companies of both countries.