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FUNDING SUPPORT EVENT HIGHLIGHTS

Cabinet approves Rs. 1 lakh-crore scheme to spur private Somaiya Vidyavihar University hosts seminar on
investments in R&D computational science honouring Prof. Shridhar Gadre

The Union Cabinet has approved a The scheme will provide long- Funding mechanism
Rs. 1 lakh-crore Research Development term fi nancing or refi nancing with Mr. Vaishnaw said the governing Somaiya Vidyavihar University
and Innovation (RDI) scheme, aim- long tenors at low or nil interest rates board of Anusandhan National Re- recently hosted the ‘National Sympo-
ing to spur private sector investment to spur private sector investment in search Foundation (ANRF), chaired by sium on Computational Science’ and
in strategic and high-growth sectors research, development and innova- the Prime Minister, will provide over- the 75th Birthday Festschrift of Prof.
through long-term, low-cost funding. tion, I&B Minister Ashwini Vaish- arching strategic direction to the RDI Shridhar R. Gadre. Organised by the
naw informed. It has been designed scheme. Centre for Excellence in Computational
The scheme has been envisaged to to overcome the constraints and chal- Science and Simulations (C2S2),
scale up research, development and inno- lenges in funding of the private sector The scheme will have a two-tiered the symposium was graced by Prof.
vation in sunrise domains and in other and seeks to provide growth and risk funding mechanism. At the fi rst level, Gadre and Prof. V.N. Rajasekharan Pillai,
sectors relevant for economic security, capital to sunrise and strategic sec- there will be a special purpose fund Vice Chancellor of Somaiya Vidya-
strategic purpose and self-reliance. tors to facilitate innovation, promote (SPF) established within the ANRF, vihar University.
adoption of technology and enhance which will act as the custodian of
“The scheme will be a game-changer competitiveness. funds. “From the SPF, funds shall be Held in collaboration with the drives innovation across chemistry, clusters at high levels of ab initio
in the world of research and innova- allocated to a variety of second-level Srinivasa Ramanujan Institute for biology, physics, and engineering. quantum chemical theory.
tion. This scheme, with a corpus of The initiative will also fi nance fund managers. This will be mainly Basic Sciences (SRIBS), the symposium Symposia like this create the space we
Rs. 1 lakh-crore will have a major impact transformative projects at higher tech- in the form of long-term concessional served as both a platform for scholarly need for deeper academic collabora- His recognitions include the Shanti
on emerging and sunrise sectors. It will nology-readiness levels, support acqui- loans,” Mr. Vaishnaw said. The funding exchange and a tribute to one of India’s tion, especially when science must turn Swarup Bhatnagar Prize, INSA Fellow-
also boost private sector participation sition of technologies which are critical to R&D projects by the second-level most celebrated computational chemists. more integrative and solution-focused,” ship, and the Lifetime Achievement
in the world of R&D,” Prime Minister or of high strategic importance and fund managers would normally be in Researchers from IISER Mohali, said Prof. Pillai. Award by the Indian Chemical Society.
Narendra Modi said in a social media facilitate setting up of a deep-tech fund the form of long-term loan at low or nil IIT Madras, Savitribai Phule Pune “Prof. Gadre’s career refl ects what
post. of funds. interest rates. University, Digital University Kerala, The symposium honoured the legacy academic leadership should stand for:
and institutions from Germany and of Prof. Gadre, a pioneering fi gure in scientifi c clarity, intellectual depth, and
TRADING STRATEGY Italy led sessions spanning technical quantum chemistry. He is known for the ability to train generations of re-
presentations, interdisciplinary panels, his contributions to energy functionals, searchers. This symposium wasn’t just
India needs to reverse-engineer imports and invest and a poster showcase featuring emerging scalar fi elds, molecular clusters, and a celebration of legacy. It was a refl ec-
scholars. molecular tailoring approach (MTA). tion of the future his work continues to
in deep-tech to reduce dependence on China: GTRI The novelty of MTA lies in enabling infl uence,” said Prof. S. Sivaram,

India needs to urgently take steps nents, and back them with targeted fi scal exports to China dropped sharply. Cur- “Computational science has moved computationally feasible and reliable Professor of Eminence, Somaiya
to reduce its growing dependence on and regulatory support,” the report stated. rently, Chinese companies supply over beyond single disciplines. Today, it studies of very large molecules and Vidyavihar University.
Chinese imports, according to a recent 80% of India’s requirements in key sec-
report by the Global Trade Research Over the past year, China has res- tors like laptops, solar panels, antibio- Govt. extends minimum import price of Rs. 20,108
Initiative (GTRI). tricted exports of key raw materials and tics, viscose yarn, and lithium-ion bat-
engineering support to other countries, teries, signifi cantly increasing India’s per tonne on soda ash imports up to Dec 31
The report recommends reverse- including India. Since mid-2023, China strategic vulnerabilities.
engineering of low- to mid-tech im- has imposed export curbs on critical The government has extended up to December 31, 2025,” the Direc- December 31, 2025. The countries in
ports, stronger domestic production minerals such as gallium and germanium, GTRI concluded that India’s depen- the Minimum Import Price (MIP) of torate General of Foreign Trade said the list include Australia, China, Indo-
incentives, and long-term investment in which are essential for India’s electro- dence on Chinese imports is not Rs. 20,108 per tonne on the import of in a notifi cation. It was fi rst imposed nesia, Colombia, Japan, Poland, Qatar,
deep-tech manufacturing to strengthen nics, electric vehicle (EV), and unavoidable. With a focused approach soda ash up to December 31 this year. in December last year. Russia, Singapore, Switzerland and
India’s economic resilience. It also defence industries. China has also placed based on rapid import substitution, Soda ash is used in various industries, UK. The government allows a total of
added that the need for this shift has export restrictions on graphite, another strategic investment in deep-tech, and including glass manufacturing, deter- In another notifi cation, the DGFT 14,27,166 tonnes of imports from these
become even more critical as geopolitical crucial material for electronics and strong screening of foreign involve- gents and chemicals. said country-wise quantitative restric- countries during the July-December
tensions with China rise. clean tech. The GTRI report revealed ment, India can move towards self-reli- tions on import of low ash metallurgical period. Metallurgical coke, particularly
that India’s trade defi cit with China has ance while maintaining balanced global “Minimum import price (MIP) @ coke, which was valid up to June 30, the low-ash variant, is an important raw
“India must nurture fi rms that can now hit $100-bn. While India’s imports partnerships. The goal is not isolation, 20,108 per ton on import of disodium 2025, have been extended for a further material which is used in steel manu-
design and fabricate advanced compo- from China surged in FY2025, Indian but a calibrated economic autonomy. carbonated (soda ash) has been extended six months that is from July 1, 2025 to facturing and other industrial processes.

144 Chemical Weekly July 15, 2025 Chemical Weekly July 15, 2025 145

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