Punjab, Haryana yet to avail of tech board benefits

Although Punjab and Haryana have a significant number of industries in the large, medium and small-scale sectors, only a small number of them avail of the benefits of the Technology Development Board, which comes under the Ministry of Science and Technology.

The two states have less than 1 per cent share of the total funds granted as financial assistance, while states like Andhra Pradesh, Karnataka and Maharashtra have 31 per cent, 18 per cent and 13 per cent, respectively. Even Tamil Nadu, Madhya Pradesh, Delhi and West Bengal are far ahead of the two states. The data indicates that very few entrepreneurs in Punjab and Haryana are interested in innovation of new technology.

The Technology Development Board is the first organisation of its kind with the sole aim of encouraging indigenous research in commercial products or services. It encourages commercial enterprises to take up technology-oriented projects. The board aims at accelerating the development and commercialisation of indigenous technology or adapting imported technology to wider domestic application.

In order to develop new technology, the board provides financial assistance in the form of equity, loans or grants. The current interest is 5 per cent per annum. It does not levy processing, administrative, commitment charges or royalty.

"Although the two states have a significant number of Industries their share in availing the benefits of Technology development board is less than 1 per cent. The board has signed 160 agreements with projects of Rs 2,515.15 crore. Also, the board has committed to provide financial assistance of Rs 734.89 crore, of which it has disbursed Rs 615.64 crore till March 31, 2006," said Mahendra Pal, a scientist with the board.