Allocate more funds for R&D in mining sector: Par Panel

"The committee feels unhappy to find that India spends a meager 0.81 percent of their GDP on R&D as compared to 2.05 percent by China, 4.36 percent by South Korea and 2.7 percent by US.

"Further, India stands at a lowly 81 out of 141 countries in the Global Innovative Index," it said.

There is an imperative need to boost R&D infrastructure across various sectors by allocation of more funds for R&D resources, making R&D jobs attractive to young scientists and professionals as well as greater institutional collaboration with renowned foreign universities/ institutes, it said.

Also, there is a need to increase focus on future upcoming technologies to meet global challenges in value-added products, technology and cost competitiveness and development of indigenous cutting edge technologies, the panel said.

Keeping in view the importance of R&D in the mining sector, the panel said it feels that the Mines Ministry's endeavour to synergise all the initiatives would result in maximising R&D outcomes.

It also stressed on the need of putting into place an "effective coordinating and monitoring mechanisms at a distinctly higher level in the hierarchy" not only for the achievement of targets set out in the National Mineral Policy, 2008, but also for ensuring optimum utilisation of R&D results to boost efficient, economic and safe mining activities.

"The Committee would like to be apprised of the action taken by the government in this regard. The committee would also like to be apprised of the outcome of 16 R&D projects approved during 2014-15 and the present status of 86 research projects received during 2015-16," it added.