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24-732: Technology Development Board (TDB), is a statutory body established by Government of India under Technology Development Board Act, 1995, to promote development and commercialization of indigenous technology and adaptation of imported technology for much wider application. The board consists of 11 Board members. The Government reconstituted the Board in March 2000. The Board plays a pro-active role by encouraging enterprises to take up technology-oriented products. The board provides equity capital or loans to industrial concerns and financial assistance to research and development institutions. The loans carry

48-424: A body corporate . '. A statutory authority is a generic term for an authorisation by Parliament given to a person or group of people to exercise specific powers. A statutory authority can be established as a corporate Commonwealth entity or a non-corporate Commonwealth entity. A statutory authority may also be a body within a Commonwealth entity, exercising the powers given by Parliament but administratively part of

72-514: A marketable product, both the governments will provide financial support up to 50% of project cost to their respective industries. The GITA has been envisaged as an industry-driven body for supporting competitive innovation clusters which in future can be entrusted with administering of Innovation Fund under a PPP model, IP acquisition by the government for non-exclusive licensing for public and social good, sectors of R&D and promotion of innovation culture in centres of excellence. In India , UTI

96-421: A national award for successful commercialization of indigenous technology by an industrial concern. The national award of Rs. 10 Lakhs is shared equally between the industrial concern that has successfully commercialized the indigenous technology and the developer/provider of such technology. In August 2000, TDB introduced a cash award of Rs. 2 lakh and a trophy to an SSI unit that has successfully commercialized

120-768: A simple interest rate of 5% per annum. In order to stimulate private sector's investment in R&;D, TDB established Global Innovation & Technology Alliance (GITA) as a Section 25 company in a joint venture between Confederation of Indian Industry (CII) and TDB with an equity contribution of 51:49 respectively. The GITA will assist Department of Science & Technology (DST) in implementing industrial research and development programmes with different countries under bilateral and multilateral science and technology cooperation agreements. In these country-specific programmes, if one industry from India and one industry from another country proposed jointly to do R&D for developing

144-574: A state-owned corporation as "a statutory authority that has corporate status". Statutory authorities at the State or Territory level are established under corresponding State or Territory laws. Each statutory authority tends to have its own enabling legislation, or originating act , even if it was established before the relevant over-riding legislation. For example, the Commonwealth Scientific and Industrial Research Organisation (CSIRO)

168-547: A technology-based product. The first SSI award was given on 11 May 2001 and thereafter it has been decided to give the Award for SSI Unit every year on the Occasion of Technology Day, i.e. 11 May. The cash awards were later revised to Rs. 5 lakh in 2011–2012. Statutory authority A statutory body or statutory authority is a body set up by law ( statute ) that is authorised to implement certain legislation on behalf of

192-420: A very high degree regulated by the labour market parties themselves (self-regulation) in contrast to state regulation of minimum wages etc. Regulation can be assessed for different countries through various quantitative measures. The Global Indicators of Regulatory Governance by World Bank 's Global Indicators Group scores 186 countries on transparency around proposed regulations, consultation on their content,

216-493: Is analysed in empirical legal studies, law and economics, political science, environmental science, health economics , and regulatory economics . Power to regulate should include the power to enforce regulatory decisions. Monitoring is an important tool used by national regulatory authorities in carrying out the regulated activities. In some countries (in particular the Scandinavian countries) industrial relations are to

240-615: Is government intervention in the private market in an attempt to implement policy and produce outcomes which might not otherwise occur, ranging from consumer protection to faster growth or technological advancement. The regulations may prescribe or proscribe conduct ("command-and-control" regulation), calibrate incentives ("incentive" regulation), or change preferences ("preferences shaping" regulation). Common examples of regulation include limits on environmental pollution , laws against child labor or other employment regulations, minimum wages laws, regulations requiring truthful labelling of

264-606: The ancient world, and gold may have operated to some degree as an international currency. In China, a national currency system existed and paper currency was invented. Sophisticated law existed in Ancient Rome . In the European Early Middle Ages , law and standardization declined with the Roman Empire, but regulation existed in the form of norms, customs, and privileges; this regulation was aided by

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288-680: The authority of statutes. Legislators created these agencies to require experts in the industry to focus their attention on the issue. At the federal level, one of the earliest institutions was the Interstate Commerce Commission which had its roots in earlier state-based regulatory commissions and agencies. Later agencies include the Federal Trade Commission , Securities and Exchange Commission , Civil Aeronautics Board , and various other institutions. These institutions vary from industry to industry and at

312-473: The authority) and a number. Just as with laws enacted by Parliament, all laws made by a statutory authority must be published in the Government Gazette. The Parliament of Australia , or a State or Territory Parliament , will delegate its authority to a statutory authority for several reasons; The power to enact legislation has been delegated by Australian Parliaments (State and/or Federal) in

336-565: The entity." A statutory corporation is defined in the government glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may be a statutory corporation). An earlier definition describes a statutory corporation as "a statutory authority that is a body corporate", and the New South Wales Government 's Land Registry Services defines

360-440: The federal and state level. Individual agencies do not necessarily have clear life-cycles or patterns of behavior, and they are influenced heavily by their leadership and staff as well as the organic law creating the agency. In the 1930s, lawmakers believed that unregulated business often led to injustice and inefficiency; in the 1960s and 1970s, concern shifted to regulatory capture , which led to extremely detailed laws creating

384-475: The following areas; Regulation Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds ), self-regulation in psychology, social regulation (e.g. norms ), co-regulation, third-party regulation, certification, accreditation or market regulation. State -mandated regulation

408-581: The ingredients in food and drugs, and food and drug safety regulations establishing minimum standards of testing and quality for what can be sold, and zoning and development approvals regulation. Much less common are controls on market entry, or price regulation. One critical question in regulation is whether the regulator or government has sufficient information to make ex-ante regulation more efficient than ex-post liability for harm and whether industry self-regulation might be preferable. The economics of imposing or removing regulations relating to markets

432-676: The relevant country or state, sometimes by being empowered or delegated to set rules (for example regulations or statutory instruments ) in their field. They are typically found in countries which are governed by a British style of parliamentary democracy such as the United Kingdom and the Commonwealth countries like Australia , Canada , India and New Zealand . They are also found in Israel and elsewhere. Statutory authorities may also be statutory corporations , if created as

456-612: The unified Christian identity and a sense of honor regarding contracts . Modern industrial regulation can be traced to the Railway Regulation Act 1844 in the United Kingdom, and succeeding Acts. Beginning in the late 19th and 20th centuries, much of regulation in the United States was administered and enforced by regulatory agencies which produced their own administrative law and procedures under

480-529: The use of regulatory impact assessments and the access to enacted laws on a scale from 0 to 5. The V-Dem Democracy indices include the regulatory quality indicator. The QuantGov project at the Mercatus Center tracks the count of regulations by topic for United States, Canada, and Australia. Regulation of businesses existed in the ancient early Egyptian, Indian, Greek, and Roman civilizations. Standardized weights and measures existed to an extent in

504-548: Was established in 1949 by the Science and Industry Research Act , but it has since come under the jurisdiction of the Commonwealth Authorities and Companies Act 1997 as legislation covering statutory authorities has evolved. Laws made by statutory authorities are usually referred to as regulations. They are not cited in the same fashion as an act of parliament, but usually with specific initials (depending on

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528-457: Was inadequate. The initiative of TDB has also given the confidence to venture capitalist or private equity funds to come up in a big way to support the technology-based projects with a pronounced emphasis on sectors witch which are growth drivers of Indian economy. The TDB has so far supported 12 venture capital funds with a total commitment of Rs. 310 Cr. leveraging total funds aggregating to Rs. 2713 Cr. from other investors. The board instituted

552-487: Was the first commitment by TDB in any venture capital fund, and the agreement for this was signed on 6 July 2000. Thereafter on a case-by-case basis, TDB' board took the decision to participate in the different venture funds (as given in the list as annexure) as limited liability partner. So far, TDB has been participating in venture funds which are mainly concentrated in technology orientation, early-stage projects and also on investment in state-level funds where TDB's presence

576-520: Was the first company to start a venture scheme under the name of India Technology Venture Scheme in 1997. In 1999 UTI's executive trustee met the then chairperson, TDB and secretary, TDB and requested TDB's participation in venture capital fund. The board in its 13th meeting dated 19 November 1999 approved TDB's participation in UTI-India Technology Venture Unit Scheme (ITVUS) with a commitment of Rs . 25 Cr . This

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