The National Innovation Council (NIC) has suggested six initiatives derived from India?s National Innovation Strategy which can promote innovation and inclusiveness in the chemical industry.

These are chemical sector council for innovation, an autonomous USD 100 million chemical innovation fund, developing of three regional clusters and two innovation centres in universities dedicated to the chemical industry, sign international collaboration agreements with Germany and Singapore, launch an Outreach programme and creation of dedicated fast track courts to enable enforcement of IP rights.

The NIC was set up to develop a national strategy on innovation with a focus on an Indian model of inclusive growth.

According to the NIC, success of these initiatives will be dependent on complex interplay of dynamics among various players within innovation eco-system.

The chemical sector council is expected to bring all the key stakeholders together to develop an innovation roadmap for the chemical sector. Regional clusters and university centres will provide a support system and relevant infrastructure for innovators. The fund will provide resources and incentives for innovation in the right areas. The outreach initiative and innovation portal will provide a platform for collaboration and sharing.