Union Finance Minister Nirmala Sitaraman has said that the innovation is going to be key factor in making India a developed nation by 2047. Addressing the valedictory function of (Corporate Social Responsibility) CSR summit on ‘Technologies for a better tomorrow’ in IIT Madras on Sunday. Ms. Sitaraman said the Union government has decided to allow corporate India to use their mandatory corporate social responsibility spending on publicly-funded incubators and contribute to research efforts in science, technology, medicine and engineering at major institutions and bodies.

Ms.Sitaraman inaugurated The national center for precision Medicine in Cancer at IIT Madras. She also inaugurated CAMS – IITM FIN TECH Innovation Lab and released a book written by entitled ‘Date Sciences for Engineers’ written by Professor Raghuram.