India holds amazing potenial in innovation, R&D: US envoy

Observing that there is a huge potential for innovation and R&D in India, US Consul General in Hyderabad, Katherine B Hadda, today said the United States and India are working together in several related areas to encourage innnovation.

Hadda, who inaugurated a conference on 'Fostering Innovation & IP for A Better Tomorrow', said she has witnessed potential for innovation in India during her tours to various R&D institutes in Hyderabad, a CII release said here.

The event was organised by Andhra Pradesh Technology Development and Promotion Centre (APTDC) of Confederation of Indian Industry (CII).

Noting that the US and India are working together in several areas, she said a technology development fund to encourage inventors and innovators has been created.

"Twenty five inventions were selected and funded, which are at various levels of commercialisation," the release quoted her as saying.

K Varaprasad, Assistant Controller of Patents & Design, IPO, Chennai said that the possibility of innovation with a focus on IP (Intellectual Property) and getting investments should be explored, the release said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)