The relationship between R&D innovation and economic development is widely acknowledged.Any industry is characterized by more investment in research and development, technical change, and the output market and the ownership of intellectual properties that support ongoing innovation.
Plants having immense diversity represent one of Earth’s greatest assets of life forms, yet we have only scratched the surface in cataloging plant-derived chemicals and their biological purposes, even as species are lost through extinction. These uncharacterized chemicals constitute a virtually inexhaustible but mostly untapped resource for agricultural, bioproduct, and biomedical applications. Furthermore, owing global concern over health and environmental hazards of synthetics and resurgence of public interest in green products, demand of plant-derived medicines, cosmetics, colours & fragrance, nutritional and other healthcare products, etc are ever-expanding. To realize the potential of phytoresources in meeting the demand, R&D interventions and development of innovative approaches (processes/technologies) are warrantable for conservation, productivity enhancement and value addition in the interest of human health, agriculture, and manufacturing sectors.
Plants having immense diversity represent one of Earth’s greatest assets of life forms, yet we have only scratched the surface in cataloging plant-derived chemicals and their biological purposes, even as species are lost through extinction. These uncharacterized chemicals constitute a virtually inexhaustible but mostly untapped resource for agricultural, bioproduct, and biomedical applications. Furthermore, owing global concern over health and environmental hazards of synthetics and resurgence of public interest in green products, demand of plant-derived medicines, cosmetics, colours & fragrance, nutritional and other healthcare products, etc are ever-expanding. To realize the potential of phytoresources in meeting the demand, R&D interventions and development of innovative approaches (processes/technologies) are warrantable for conservation, productivity enhancement and value addition in the interest of human health, agriculture, and manufacturing sectors.
In a typical industry, there must be a section for R&D. The duties of this section, in an industrial chemical plant, could be: 1) Solving an existing problem by preparing a suitable product. 2) Preparing an important chemical from a cheaper starting material. 3) Preparing an important chemical by a better method. 4) Optimization of the yield & the degree of conversion.
The norm, in advanced countries, is to invest ~10% of the annual profits in R&D with more emphasis upon applied research than basic research. The expenditure is high but the reward is enormous: the company stays in the market, the industry gets updating with state-of-the- art technologies, and the innovations may bring about huge profits by patents for nearly 17 years (through owning legally protected intellectual properties).
Dear Dr. Sukla
If I am not incorrect, transnational and private companies spend 40% or more of their expenditure on advertisements and campaigns, 20-30% on R&D and the rest on establishment, salaries etc. R&D therefore is a second priority item. Nevertheless the importance of R&D is well recognized for both the natural product and synthetic segments. The problem is public spending on R&D which is meager compared to other programs like infrastructure, social welfare, communications etc.
As for plants, R&D innovation is not a new concept and has long been introduced both in the public and private domains. Many of the medicines we consume today either are plant-based or nature-mimicked. Plants continue to play significant role in food, clothing, shelter, beauty, health, transport and several other sectors. I opine that today the need is to further strengthen the R&D innovation on plants and plants related subjects.
You may be interested in following these threads: https://www.researchgate.net/post/Why_there_is_a_lacuna_in_herbal_research
Best wishes.
https://www.researchgate.net/post/Why_there_is_a_lacuna_in_herbal_research
https://www.researchgate.net/post/Considering_the_huge_Medicinal_plants_availability_has_the_time_come_to_further_the_research_to_get_the_finished_products
China predicted to outspend the US on science by 2020
http://www.nature.com/news/china-predicted-to-outspend-the-us-on-science-by-2020-1.16329
We have a rich diversity of medicinal plants and its equally varied and scientific formulations.We have a great culture which imbibes us to include nature in every aspect of our life.More importantly to document our science and prove its efficacy to the scientific world we have to invest in R & D of our plants.
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