The Ministry of New and Renewable Energy (MNRE) has issued the draft Technology Development and Innovation Policy. The draft policy focuses on indigenous technology development, manufacturing and quality improvement for new and renewable energy. Besides, it aims for increased interaction among stakeholders such as researchers, innovators, industries, scientists and policymakers. It has proposed to set up specialised centres of excellence for renewable energy. The MNRE also intends to provide up to 100 per cent financial assistance for research and development, as well as academic, government and non-profit institutions. Financial assistance amounting to 50 per cent of the project cost will be provided for projects in partnership with industries and private institutions, including engineering colleges. In addition, the MNRE has planned to double the budget for technology development initiatives.