Shantha Biotechnics founder bats for tax incentives for industries to boost research

Shantha Biotechnics founder and recipient of the Padma Bhushan award Dr. K.I. Vara Prasad Reddy on Thursday advocated the reintroduction tax incentives for industries by the Central government to encourage research in the field of science and technology. 

Andhra Pradesh Governor and Chancellor of Jawaharlal Nehru Technological University (JNTU-Kakinada) S. Abdul Nazeer conferred an honorary doctorate (Honoris Causa) on Dr. Vara Prasad Reddy during the XII Convocation of university held at the JNTU-Kakinada campus on Thursday. 

In his convocation address, Dr.Vara Prasad Reddy said; “Academic institutions should explore the future needs of the country and groom students accordingly. Society is growing faster than expected and the emergence of Artificial Intelligence is a clear example of that. Students graduating today would become ‘Rip Van Winkle‘ if the present curriculum are not revised. The teaching faculty must continuously keep themselves updated”.

Dr. Vara Prasad Reddy appealed to universities to actively engage with industries, and showcase their research capabilities for research collaboration.

Dr. Vara Prasad Reddy also announced a donation of ₹1 crore to JNTU-Kakinada to launch a course on entrepreneurship and asked the alumni of the institution to collaborate with JNTU-Kakinada to encourage research and establish a research centre for future research endeavours.

In his address to the students, Governor S. Abdul Nazeer said that institutions must ignite curiosity among students and help them understand complex challenges.

“Industrial collaboration, dynamic and blended learning ecosystem are vital for equipping graduates with the skills, adaptability and understanding for global perspective. Internships, field visits and community engagement are invaluable in shaping responsible citizens who understand the technological progress and social responsibility,” said Mr. Abdul Nazeer.

JNTU Kakinada Vice-Chancellor Prof. C.S.R.K. Prasad presented the initiatives, academic achievements and development of the university. As many as 48 candidates received PH.D degrees and 39 received endowment awards and gold medals during the convocation.