Goyal Urges Industry to Utilize Rs 1 Lakh Crore ANRF Fund for Innovation, Research, and Quality Standards

Union Minister Piyush Goyal has encouraged Indian industries to utilize the Rs 1 lakh crore allocated to the newly established Anusandhan National Research Foundation (ANRF) to create a strong research and innovation ecosystem.  Speaking at the Federation of Indian Chambers of Commerce & Industry’s (FICCI) 97th Annual General Meeting and Convention in New Delhi, Goyal highlighted the need to cultivate a mindset among the youth for experimentation and developing innovative ideas.

The Minister highlighted that the Government's push for strengthening research and development (R&D) should motivate industry leaders to actively participate and provide suggestions to streamline funding processes, making them both time-efficient and outcome-oriented. He called for greater involvement of private sector institutions in the industry-academia-government partnership to drive innovation, meet societal needs, and boost exports.

Goyal lauded various transformative initiatives by the Modi government, such as Digital India, SAUBHAGYA, Ayushman Bharat, and Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), comparing them to "beads in a necklace" that contribute to India's rapid development. He also commended the success of the Swachh Bharat Mission (SBM), which he described as a revolutionary movement for cleanliness and a cornerstone for economic growth and job creation.

In a noteworthy acknowledgment of FICCI’s role, Goyal praised the organization for introducing the “Excellence in Swachh Industry Parks” awards to promote cleanliness across industrial parks. He encouraged industries to adopt cleanliness drives as part of their Corporate Social Responsibility (CSR) initiatives and advocated CSR adoption of school and college toilets, which he said would significantly enhance India’s growth trajectory.

The Minister also emphasized reducing compliance burdens and decriminalizing laws to ease doing business in India. He urged FICCI to act as a vital feedback mechanism to help the Government refine its policies.  Goyal underlined India’s growing global significance, noting its trusted reputation and increasing integration into global value chains.

Highlighting quality standards, Goyal called upon FICCI to mobilize technical committees and appoint industry representatives to ensure practical and effective quality measures. This, he said, would help India establish itself as a reliable provider of high-quality goods and services, a vital step toward achieving the vision of Viksit Bharat (Developed India).

Under Prime Minister Modi’s leadership, Goyal concluded, India is set to become a global growth engine, reinforcing its commitment to innovation, cleanliness, and excellence.