Universities
are cradles of innovation and knowledge creation. Research in universities has
three-tier effects concerned with quality of under-graduate & postgraduate
education and value of research. They are the source of generating high caliber
manpower and repositories of national intellectual wealth in Science & Technology
(S&T) sector, which if channelized properly, may lead to socioeconomic development.
In the emerging global
scenario, India can be an ideal destination due to its cost effectiveness and
availability of knowledge base. It must also aim for a permanent position in the
field of Science & Technology. Considering the present status of the S&T
sector in the universities and related academic institutions who are in dire need
for strengthening the existing S&T infrastructure support with adequate funding
and associated flexibility, Government of India in the year 2000 announced a major
new initiative titled "Fund for Improvement of S&T infrastructure in
universities & higher educational institutions (FIST)" to rebuild the
Science & Technology infrastructure in the country.
