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DAILY NEWS ANALYSIS

  • 29 November, 2020

  • 3 Min Read

GLOBAL INNOVATION & TECHNOLOGY ALLIANCE

GLOBAL INNOVATION & TECHNOLOGY ALLIANCE

GS-III – S&T (PT-MAINS-I.V)

Context: 9th Foundation Day of GITA, Union Minister of Science & Technology underlined how Global Innovation and Technology Alliance (GITA) served as a catalyst for nurturing innovation and industrial R&D.

About:

  • Global Innovation & Technology Alliance (GITA) is a “not–for–profit” Section-8 Public Private Partnership (PPP) company.
  • It is promoted jointly by the Technology Development Board (TDB), Department of Science & Technology (DST), Government of India and the Confederation of Indian Industry (CII).
  • The Prime Minister’s Council on Trade & Industry had, in 2010, recommended incorporation of a Government’s arm’s length entity under PPP mode to professionally manage the Government’s funds for providing flexibility to industry for undertaking R&D along with global partners.

The GITA platform encourages industrial investments in innovative technology solutions by

    • Mapping technology gaps,
    • Undertaking expert evaluation of technologies available across the globe,
    • Facilitating techno–strategic collaborative partnerships appropriate for Indian economy,
    • Connecting industrial and institutional partners for synergistic matchmaking and
    • Providing soft funding for technology development / acquisition / deployment.

Historical perspective

Technology Development Board:

It is a statutory body established by Technology Development Board Act, 1995.

Objective: To promote development and commercialization of indigenous technology and adaptation of imported technology for much wider application.

Roles and functions of the board:

  1. Encourage enterprises to take up technology-oriented products.
  2. Provide equity capital or loans to industrial concerns and financial assistance to research and development institutions.

Global Innovation & Technology Alliance (GITA):

In order to stimulate private sector’s investment in R&D, TDB has established Global Innovation & Technology Alliance (GITA).

It is a joint venture between Confederation of Indian Industry (CII) and TDB with an equity contribution of 51:49 respectively.

The GITA will assist Department of Science & Technology (DST) in implementing industrial research and development programme with different countries under bilateral and multilateral science and technology cooperation agreements.

Source: PIB


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