Government funding for private research
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Artificial intelligence, quantum computing, semiconductors, Advanced technologies such as synthetic biology are the driving forces of development in the 21st century. To excel in these, R&D should be given a lot of attention. In particular, Srijanasilura should be appointed and huge funds and facilities should be allotted to them. Since World War II, America has worked like this and grown as a superpower. China is also following the same path and is competing with America today. India is now taking steps in that direction.
China brought home about seven thousand of its scientists and entrepreneurs from abroad in 2008 through the 'Sahasra Pratibhala Attracting Scheme'. In 2011, Sahasra managed to attract foreign creatives with an attractive program of young talents. But- Western intelligence agencies have sensed that all this is a plot hatched by the dragon to steal the research fruits of American and European countries and to steal intellectual rights. With that, Dragon stopped talking about those schemes and started programs like 'Quiming (Knowledge Acquisition)' in 2023. Srijanasilura is provided with huge cash, housing, jobs for their spouses and education for their children. On the other hand, China is adapting the Trump government's cuts to the H-1B and Green Card schemes in America. K-Visa scheme for foreign professionals has come forward. Due to these programs, today Dragon is challenging America in the fields of AI, quantum computing, 5G, 6G, semiconductors, aerospace, and defense.
A special fund with lakhs of crores
Xinping government has established a connection between its universities and industries. It is providing facilities to talented people and achieving great results. The Trump administration has cut funding to famous universities like Harvard, the National Cancer Research Institute, the Institute of Health, and the Science Foundation. Funding for 'NASA' has been reduced! Nearly five thousand research grants have been canceled in the fields of science and technology. This raises the question whether Trump's intention is to privatize R&D. However, the 'Star Gate' scheme announced by the Trump government should be mentioned here. Under it, private companies like Open AI, Oracle, and Soft Bank will invest 50 thousand crores of dollars in the field of AI. It is in this context that the Center has announced the Research-Development and Innovation Fund (RDI) in the current budget with an investment of one lakh crore rupees. These funds will be spent over six years. As the first installment, Rs.20 thousand crores will be released in the current financial year. Long-term loans at low interest from the RDI fund for private research projects in the fields of AI, Robotics and Biotechnology (DeepTech). A 'Fund of Funds' will be set up for this purpose. The centre, which has already encouraged private participation in the nuclear and space sectors, will also encourage private research in deeptech, quantum computing, advanced materials, green fuels and defense technologies linked to national security. The Special Purpose Fund (SPF) will be the administrator of RDI of... lakh crores. This SPF will provide capital to secondary management companies. These include Non-Banking Finance Institutions, Alternative Investment Funds (AIFs) and Development Finance Institutions (DFIs). Although the Union Department of Science and Technology has taken over the responsibility of implementing the RDI scheme - it does not choose which companies and start-ups to fund. The second level of management entrusts the responsibility of selecting companies that can succeed in the market. The Yozma program in Israel and the Technology Fund in South Korea followed a similar path. Startups in Silicon Valley have achieved a series of successes due to the funding and incentives given by the US Department of Defense and NASA. Also R&D may not always yield the expected results. Therefore, private companies are reluctant to invest heavily in this. The purpose of the RDI scheme is to encourage private innovation by funding the government itself to eliminate this junk. The government hopes that the RDI scheme will help achieve a developed India by 2047 through modernization. With Trump's decisions, the future of H-1B and Green Cards is in question, Indian talents may not be able to go to America in large numbers. Apart from utilizing their talent at home, we should also bring back Indian intellectuals who are already abroad.
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