Union Commerce and Industry Minister, Piyush Goyal, on Thursday, stated that the government initiative to help India develop research and development (Randamp;D) ecosystem will evince interest from the industry leaders, and urged the participants to provide suggestions in making the processes to get funds outcome-oriented and time efficient.The Union Minister also advocated bringing in private sector institutions to be part of the industry-academia-government partnership in fostering innovation and collaboration with the industry to meet the needs of the people and spur exports.Speaking at the Federation of Indian Chambers of Commerce andamp; Industrys (FICCI) 97th Annual General Meeting and Annual Convention in New Delhi, Goyal added that Rs 1 lakh crore allotted by the Government under the newly operationalised Anusandhan National Research Foundation (ANRF) should be utilised by the industry to foster innovation and create a research based ecosystem in the country and the youth should be tuned to the mindset of experimenting and developing new ideas.