India and the United Kingdom (UK) on Wednesday agreed to scale-up their bilateral research and innovation relationship to a greater level, announcing a 'Newton-Bhabha Fund' for the same.
This new initiative was decided upon during a meeting between Union Minister for Science and Technology Dr. Harsh Vardhan and the UK Minister for Universities, Science and Cities Greg Clark, who co-chaired the fourth UK-India Science and Innovation Council (SIC) here.
Both the ministers applauded the significant role that the UK-India research and innovation partnership has played in bringing together the best researchers in both nations which are actively cooperating to address the global challenges through the application of science and technology.
Harsh Vardhan and Clark also noted that the UK-India Education and Research Initiative (UKIERI) has been successful in building new scientific partnerships through joint research projects and networking. The two ministers also agreed in principle to augment and continue the third phase of the UKIERI.
The Newton-Bhabha Fund will see the UK pouring in GBP 50 million over the next five years, with India matching up with a contribution on a similar note. The programme will have a strong interdisciplinary dimension that will further strategise the science, research and innovation cooperation between India and the UK.