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Part - III

The Indian Government is also contributing, considering the importance of research and development of this new frontier area. The Department of Science and Technology, Govt. of India, has launched a national nanotech program and has been encouraging tremendous thrust on Nanomaterials. The Indo-US joint forum on Science and Technology has identified this area of research for intense cooperation. The Government of India's Nanomaterials Science and Technology Initiative (NSTI) potentially offered a venue for greater cooperation. NSTI is a scheme in which the Government of India has invested Rs.100 crores for the next 5 years on nanotechnology research & development.

But some say that the Government isn't putting enough money into the field. The American government has allocated over US$ 700 million annually for nanotech research, whereas the EU has gone ahead and approved a budget of € 16 billion for research.

Venture capital funds are also joining the bandwagon. ICICI Venture and Indian nano are optimistic about nanotechnology in India. They are backing small nanotechnology companies like Velbionanotech.

The Future of Nanotechnolgy

The future of nanotechnology is very bright. Computers will become quicker, materials will become stronger, and medicine will cure more diseases. Nanotechnology, which works on the nanometer scale of molecules and atoms, will be a large part of this future, enabling great improvements in all these fields. Advanced nanotechnology will work with molecular precision, producing a wide range of products that are impossible to make today. Some other applications with immediate impact include drug delivery for the treatment of tumour, cancer (without using radiotherapy & chemotherapy), and solar energy, batteries, and display technologies, semiconductor devices in nanoelectronics, biosensors, and luminous paints.

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* Contributed by -
Dhawal Shah is described as a franchise enthusiast. He has always been intrigued by the power of franchising. Based in Mumbai, he constantly reads and writes on franchising and its enormous potential in India.