Tuesday, July 4 2006 12:34 Hrs (IST) - World Time -

London: A new Science and Technology Innovation Council to be set up with funding of up to 12 million pounds each from Britain and India is to focus on intellectual property rights (IPR), official sources here said.

The focus of the council would be on strategic areas of next generation communication technologies, biotechnology and stem cell research and advanced materials and nanotechnology.

The council would also work on key initiatives, including new energy and weather systems and climate change, thus looking at public good and developing and delivering new products to market.

Three leading scientists each from India and Britain would work on a road map to further Indo-British partnership through these strategic and bilateral initiatives.

From the Indian side, the three names proposed are C.N.R. Rao, R.A. Mashelkar, director general of the Council of Scientific and Industrial Research (CSIR), and T. Ramaswamy, secretary, department of science and technology. Indian Science and Technology Minister Kapil Sibal announced that the best of Indian and British scientists and institutions would collaborate with a funding of 6.5 million-8 million pounds (which could go up to 12 million pounds) from Britain, with India matching the funds in contribution.

A joint statement of intent to create and implement an Intellectual Property Rights programme between Britain and India was also signed by Science Minister Lord Sainsbury and the Indian Commerce and Industry Minister Kamal Nath here last week.

IPR is one of the key areas identified by JETCO (UK-India Joint Economic and Trade Committee) as providing potential for increased trade and investment in the future.

Lord Sainsbury said, "This statement formalises the commitment in both countries to creating the conditions for mutually beneficial trade and industry relations which reflect the profound changes brought about by the global knowledge economy."

Ron Marchant, chief executive of the patent office, said, "The activities identified in this statement will enable both countries to share their experiences. It will ensure businesses are able to make best use of IPRs, that intellectual property is taught appropriately at universities, and that our patent offices are effective in meeting the needs of our respective governments, business communities, and societies."

The statement was signed in the backdrop of a large gathering of Indian and British science and innovation experts at the 2nd Annual India UK Business Leaders Forum 2006 here.

Delivering the keynote address at the forum, Kamal Nath urged British companies to tap the potential in India by investing in the country and make India Britain's largest trading partner.

"UK stands to benefit from India's entrepreneurial power and from the fact that India's growth needs less fuel as compared to China", he observed.

"Both India and UK have become partners of choice in science, technology and innovation because we both recognise the importance of these disciplines for economic prosperity and quality of life," he said.

The commerce minister also released a report, 'Going Global - India Inc. in UK' at the forum. It is a first-of-its kind concerted study of Indian companies going global in the context of a specific market.

Indian investment into Britain was double of Britain's investment into India over 2005-06. The report also revealed that the second biggest reason for Indians investing in Britain is that it acts as a base to invest in other European countries.