Kochi, Sep 13 (IANS) Kerala has the potential to become a research and development (R&D) hub for various sectors with its scientific talent pool and the presence of several institutes, said panellists at the Emerging Kerala-2012-Global Connect conference here Thursday.
Setting the pace of the discussion, Rajesh Nair, vice president at Ernst and Young consultancy firm, said: "The Indian pharma industry is expected to be top five innovation hubs in the world."
According to T. Ramasami, union science and technology secretary, more than 1,100 MNCs have invested India for R&D and Kerala residents can earn higher income working in these fields.
Stressing that R&D does give return on investments, V.N.Rajasekharan Pillai, the state's principal secretary, science and technology, said there is wide scope for investors to commercialise the R&D activities of Kerala-based institutes as there is no single institutional mechanism for the purpose.
Pillai said there is an urgent need in Kerala for an institution like the Tata Institute of Fundamental Research.
Julius Zacharias, managing director of BrahMos Aerospace Ltd, said the company is mulling to set up the Advanced Research Institute of Nano Technology in Kerala.