Centre to expand India Inclusive Innovation Fund to $1 bn.

The central government is looking at expanding its India Inclusive Innovation Fund, aimed at promoting grass-root innovations to deliver modest social and economic returns, to $1 billion, according to Raghunath Mashelkar, chairman of National Innovation Foundation-India.

'The new government that has come in, has committed to increase the fund and, in fact, has made a provision towards this in the new Budget. It has progressed in completing the process and I hope that it will be implemented soon,' he told mediapersons on the sidelines of an event held in Hyderabad.

At present, the India Inclusive Innovation Fund is restricted to Rs. 500 crore. It invests in sectors like healthcare, water, energy and agriculture.

BS