Significant R&D scheme attracting scientists from around the world
Almost 260 scientists from around the world have applied for the New Delhi Visiting Advanced Joint Research (VAJRA) R&D scheme, which attracts the top international talent in the country’s research and development ecosystem
Screening of applicants for this exciting opportunity will continue throughout October and 70 applicants will be shortlisted and begin work in December.
Being selected for the VAJRA Faculty scheme is a significant opportunity and achievement. Scientists will be provided with a lump-sum amount of USD 15,000 in the first month of residency and USD 10,000 per month afterwards.
Eventually the plan is for the department of Science and Technology to select 1,000 scientists every year for the pilot project. This will aim to significantly increase expertise in the areas which India currently lacks in such as, renewable energy and water.
The following program will greatly benefit the advancement of research and R&D expertise in India, which will ultimately lead to further opportunities within the sector in the years to come.
India has seen a surge in global R&D, which helps nurture the country’s innovation ecosystem. If your company is engaging in research activities, it may be eligible for an R&D Tax Credit. An R&D Tax Credit reduces the cost and risk of undertaking R&D activities for your business. The benefit helps companies doing eligible work to create new or improved products, processes and services by reducing their tax. To find out if your company could be eligible, complete Swanson Reed’s quick and simple contact form.
Swanson Reed also regularly hosts free webinars and provides free IRS CE credits as well as CPE credits for CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.