BANGALORE, India The government plans to launch a venture fund to promote green technology research.
The size of the fund and other specifics will be determined by the National Mission on Strategic Knowledge for Climate Change (NMSKCC).
The initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels.
NMSKCC, which is in the process of preparing a mission document with milestones for promoting green technologies, said it will identify key institutes that will be designated as centers of excellence in climate research.
The India Semiconductor Association (ISA) praised the government's green technology plan. "The clean tech sector has seen huge interest from venture funds and private equity investors globally. This is the right time that this is happening in India." said ISA President Poornima Shenoy.
Earlier in the week, NXP Semiconductors agreed to provide electronics components for the manufacturing operations at Tata BP Solar.
K.C. Krishnadas is site editor of TechOnline India