The Technology Development Board Act, 1995
Administered Ministry: Ministry of Science and Technology / Department of Science and Technology
Act details
| Short title | The Technology Development Board Act, 1995 |
|---|---|
| Long title | An Act to provide for the constitution of a Board for payment of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology to wider domestic applications and for matters connected therewith or incidental thereto. |
| Act number | 44 of 1995 |
| Act year | 1995 |
| Enactment date | 16 Dec 1995 |
| Ministry | Ministry of Science and Technology / Department of Science and Technology |
| Department | Department of Science and Technology |
| Jurisdiction | Central (Parliament of India) |
| Sections | 23 |
| Status | Not repealed |
| Last checked on India Code | 29 Oct 2026 |
| Source | India Code, Government of India |
Summary
Summary of the Technology Development Board Act, 1995
Key Provisions
• Establishment of the Technology Development Board: The Act provides for the incorporation of the Technology Development Board as a body corporate with perpetual succession and a common seal.
• Functions of the Board: The Board is empowered to promote the development and commercial application of indigenous technology and the adaptation of imported technology by providing financial and other support.
• Financial Assistance: The Board may provide assistance in the form of loans, equity participation, grants, or other financial support to industrial concerns, research institutions, and other eligible entities for technology development and commercialisation projects.
• Management of the Board: The Act provides for the composition of the Board, including its Chairperson and members representing the Government, scientific community, industry, and financial institutions, and prescribes their powers and functions.
• Fund of the Board: The Act establishes a dedicated fund for the Board, consisting of grants, loans, recoveries, and other receipts, to finance its activities.
• Accounts and Audit: The Board is required to maintain proper accounts, prepare annual statements, and have its accounts audited in accordance with the Act.
• Rule-making Power: The Central Government is empowered to make rules for carrying out the provisions of the Act.
Legislative history
Legislative History:
The Technology Development Board Act, 1995
Act Title The Technology Development Board Act, 1995
Act Number 44 of 1995
Act ID (India Code) 199544
Presidential Assent Date December 16, 1995
Enforcement Date November 1, 1996
Nodal Ministry Ministry of Science and Technology
Precedent & Historical Rationale
1. Bridging the Gap Between R&D and Commercialization:
o Prior to 1995, India possessed substantial scientific and technological research capabilities in national laboratories and academic institutions, but struggled to translate indigenous laboratory-scale research into commercial products. Additionally, adapting imported foreign technologies for wider domestic industrial applications lacked structured financial support.
2. Promoting Technological Self-Reliance:
o To accelerate economic growth through home-grown innovation, the Central Government identified the need to provide risk capital, equity backing, and soft loans to industrial concerns and agencies engaged in developing and commercializing domestic technology, establishing a dedicated statutory mechanism for this purpose.
Parliamentary Trajectory & Enactment
• Formulation: Drafted by the Department of Science and Technology to constitute the Technology Development Board (TDB) as a corporate body and establish a dedicated Fund for Technology Development and Application (utilizing resources primarily drawn from the Research and Development Cess Act, 1986).
• Parliamentary Passage: Introduced as a specialized economic-science legislative bill, deliberated, and passed by both the Lok Sabha and Rajya Sabha during the winter session of Parliament in late 1995.
• Presidential Assent: Received Presidential Assent on December 16, 1995.
• Enforcement: Enforced on November 1, 1996.
• Source: Official Records of Parliament, India Code, and Ministry of Science and Technology.