No conflict of interest in RDI Fund, says government

NEW DELHI: The government on Friday said the Research, Development and Innovation (RDI) Fund is being implemented through a robust institutional framework with "stringent conflict-of-interest safeguards" in place, highlighting that it is designed "not to exclude domain expertise but to regulate it through clearly defined conflict-of-interest provisions".Rebutting a media report that 15 of the 22 entities that got public funds to boost India's deep-tech ambitions have investment links to seven members of the selection committee, raising questions of conflict of interest and propriety, Technology Development Board (TDB) secretary Rajesh Kumar Pathak said the mere existence of a professional or investment association with an innovation ecosystem entity does not constitute a violation of conflict-of-interest norms."What the framework requires is full disclosure of such interests and complete recusal from the evaluation and decision-making process relating to the proposal concerned... All members had, accordingly, recused themselves, and each decision was taken not by simple majority but by super-majority (two-thirds) of eligible members," said Pathak."Members who declare a conflict of interest neither participate in discussions nor vote on the concerned proposal." Pathak also underlined that TDB has "consistently followed similar conflict-of-interest safeguards for nearly three decades" while supporting indigenous technology development.Since its establishment under an Act of Parliament in 1996, TDB has relied upon independent expert committees rather than individual officials for evaluating technology proposals.The same institutional principles continue to govern project selection under the RDI Fund, reinforcing continuity, credibility and public confidence in the decision-making process, he added.Prof Umesh V Waghmare, secretary in the department of science and technology and TDB chairperson, said the government has followed the conflict-of-interest guidelines and framework diligently and strongly believes that there have been no violations. TDB is one of the agencies selected to grant money under the Centre's Rs 1 lakh crore RDI Fund. It has, so far, approved assistance for 22 projects involving Rs 2,192 crore of financing.Get the latest India News and Live updates. Download the TOI app.