Research and Development has been recognized, as one of the main drivers of economic development and global competitiveness. It is encouraging to note that the total R&D investment in India has gone up from USD 2.9 billion (Rs.1,24,700 cr) in 2001 to USD 8.5 billion (Rs.3,65,500 cr) in 2005, thereby resulting in an annual growth rate of 31 percent during this period and the above trend is still continuing. Although India is quickly moving up the value chain by becoming a global R&D hub providing cutting-edge research and development, the focus on taking an idea to market needs to be much stronger in India. The Indian scientists and engineers have to be wealth creators, which is the need of the hour and is possible only with R&D activities at young age in the academic institutions.

There is a need for closer interaction between the academia and industry and Department of Science and Technology (DST) and CSIR have initiated this process of bringing Indian companies, Indian research institutes, multinational corporations and academic institutions closer to each other. The premier institutes in the country such as IITs and IISCs and CSIR labs have on-campus research facilities that collaborate with research organizations and with multinationals. A prerequisite for a harmonious working relationship between industry and academia is a clear, cogent, and transparent framework for ownership, of the new knowledge, and for fair sharing of the benefits resulting from the commercial success of such joint work. To sustain creativity and innovation, using the system of Intellectual Property Rights (IPRs), for fair and equitable sharing of the benefits is a dire necessity in today's environment. This will stimulate innovation and lead to increased private investment in R&D activities.

NMIET-Bhubaneswar, a premier engineering institution in the State of Orissa established in year 2004 is the 1st engineering institution to have signed an MoU with Bangalore based Rajesh Global Solutions Ltd. for establishing a research and development (R&D) Centre on its campus. Speaking at the inauguration of the Centre Prof. Jawahar Nesan from West Michigan University, USA, expressed his concern that not a single University in India is among top 50 universities in the world. He further hoped that opening of such a R&D Centre at NMIET is indeed commendable and will certainly lead to value added engineering education in country. Sj. R.C. Parida, Chairman, NMIET and Sh. Prassana Kumar, CEO, Rajesh Global Solutions Ltd, Bangalore, Dr. R. S. Rohella, Director (R&D) an academician and reputed ex-CSIR scientist spoke on this occasion and wished the Centre a big success with all out support from their ends.   

In a goal to produce, wealth creators, NMIET-Bhubaneswar, established in the year 2004 and a premier engineering institution in the State of Orissa has join hands and signed an MoU with Rajesh Global Solutions (RGS), Bangalore, have join hands to open a R&D Centre at NMIET campus to inculcate research and development activities in minds of young engineers along with basic academic curriculum being taught right from their admission into the college. RGS is one of the top most multinational companies in India with a big R&D force having a large number of joint ventures and association with renowned world companies. RGS is where innovation is the process and execution is the result.

The opening of a R&D centre at NMIET campus will not only help the students gaining both theoretical and practical experience but also encourage in thinking, designing and development new gadgets, products and knowledge-based software at the very young age leading to value added engineering education at NMIET.  The Centre further envisages all time association and operation of R&D activities together by RGS and NMIET in terms of generation of knowledge, research publications, patents and commercial benefits. The centre has already started functioning and training of the students and faculty members by RGS, Bangalore and establishing other facilities by NMIET for the centre is in progress.

The centre has also decided that the projects for submission to BPUT by the students as a part of their academic requirement will be taken up and completed through R&D Centre under the guidance of NMIET faculty members and RGS experts which will integral parts of big industrial projects leading to human resource development, knowledge generation in terms of M. Tech. Ph. D, research publications and patents and ultimately revenue generation by the centre in future.