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The finance minister said facilities in select Indian Council of Medical Research (ICMR) laboratories will be made available for research by public and private medical college faculty members and private sector research and development teams for encouraging collaborative research and innovation.

FM Nirmala Sitharaman said the government will encourage the industry to invest in R&D in specific priority areas.

Details of these sectors are awaited, but funds could be spent on development of vaccines, medical devices and specific drugs, industry experts told TOI.Automate content distribution for sales teams with AI powered tools Start Earning Today: High Returns, Secure Investments