New Delhi: In an effort to increase research investment, the Science and Technology Ministry has announced the Indian Innovation Act.
It has asked FICCI to prepare a draft for the act by December this year.
The aim of the legislation would be not just to increase research investment, but also strengthen education opportunities in science, technology, engineering, and mathematics and finally develop an innovation infrastructure.
Science and Technology Minister Kapil Sibal said the draft act will be put up for debate in the public domain.
"We need an Indian Innovation Act which is India-specific, which deals with the challenges in India to make an innovative society," he stated.
"Basically, this act should talk about how we should change our education policy to make our students more innovative and about how we can weaken bureaucratic control over research and development and scientific institutions," he added.