An Overview of the Technology Development Board

The Technology Development Board (TDB) is a statutory body, established by the Indian Parliament through the Technology Development Board Act, 1995. This organisation was officially formed in September 1996.

• TDB is the primary body in India responsible for promoting the development and commercialisation of indigenous technology and adapting imported technology for broader application.
• It operates under the supervision of the Ministry of Science and Technology, Government of India.
• The board's main objective is to ensure that the results of indigenous research are commercialised effectively.
• It actively encourages companies to adopt technology-oriented products.

The Objectives of the Technology Development Board

• To inspire innovation from small firms, even if there's a risk of failure.
• To promote the production of competitive consumer products.
• To motivate industries and R&D institutions to strive for product innovation.
• To develop technologies that are both socially relevant and profitable.
• To identify and act in areas that need strategic interventions.
• To invest in core technological strengths to enable the Indian industry to withstand competitive pressures and become a global player.

Functions of the Technology Development Board

The TDB's primary function is to provide equity capital or loans to industrial concerns and offer financial assistance to R&D institutions. Its loans carry a low simple interest rate of 5% per annum. Other functions include:

1. Facilitating interaction among the industry, technocrats, scientists, and specialists.
2. Fostering a culture of innovation by enabling cooperative research between industries and institutions.
3. Providing businesses with a platform to interact with banks and financial institutions for funding.
4. Creating a new generation of entrepreneurs.
5. Assisting in partnerships with other similar technology financing institutions.
6. Opening avenues for venturing into high-tech domains.
7. Generating job opportunities.

Members of the Technology Development Board

The Secretary of the Department of Science and Technology chairs the TDB (ex-officio member). Apart from the Chairperson, the board consists of six ex-officio members and four nominated members.

The ex-officio members are the secretaries of the departments of Scientific & Industrial Research, Defence Research & Development, Expenditure, Promotion of Industry and Internal Trade, and Rural Development.