Delivering his first Dr APJ Abdul Kalam Memorial Lecture organised by CII and Kalam International Foundation here, he said India has a high-range of technological capabilities and should take some amount of risk in research.
Chidambaram, also the chairman of Scientific Advisory Committee to the Cabinet, cited examples of industries working directly with research institutions to develop technology.
He said there is a need for from large industries imparting knowledge to small industries to hel them develop products.
Talking about the trends in high-tech start-ups in advanced manufacturing, machine tools sector and analysis of big data, the former chairman of the Atomic Energy Commission said "open technologies" such as the World Wide Web would propel India into the future.
Nazima Marakayar, niece of Kalam and Managing Trustee of the APJ Abdul Kalam International Foundation, said: "We have to work together in the areas of science and technology including solar and space.