CHENNAI: Chief Minister MK Stalin on Monday launched Tamil Nadu Research and Development (R&D) Policy, 2022 and Tamil Nadu Life Sciences Promotion Policy, 2022, at the Investors Conclave, held here.
According to the R&D policy, the aim of the policy is to "increase the inputs to R&D, including the number of researchers and scientists in both government and private sectors, to increase the innovation outputs and publications, to develop a synergetic innovation ecosystem of research parks, research centres, centres of excellence and innovation hubs".
The goal of the R&D policy is to "double the R&D expenditure from the government, higher education and private sector by 2030. The policy also aims at promoting the private sector by targeting new indigenous R&D performing firms in both manufacturing and service sectors.”
While stating the intention behind drafting the policy, the State government said that Tamil Nadu is among the top three states in India in fostering innovation and has evolved into a human capital hub that serves not only the nation but also the world, ranking first in human capital in India Innovation Index. Tamil Nadu being a manufacturing hub, R&D is mostly driven by industries and to further give a boost to the sector, a sector-specific policy had been drafted.
Life sciences policy:
The goal of the policy is to attract Rs 20,000 crore of investments in life sciences and generate 50,000 jobs in the State.
The mission of the policy is to transform Tamil Nadu into the most preferred destination for researchers in biologics, biosimilars and medical technology, to enhance the existing ecosystem by making it more conducive for the units to operate, produce and move higher in the value chain, to improve ease of doing business for life sciences firms and to build local production capacities and increase import substitution of pharmaceutical products and cutting-edge medical equipment.