Bangalore has been declared as the 'nano city of India' . Karnataka government announced that it would take measures to encourage research and development in nanoscience and facilitate development of the nanotechnology industry in the state. Declaration has been done in the 'Bangalore Nano 2008' conference-cum-exposition. Nanotechnology which was changing the face of industry and economy, would be a transformative force in India in the coming years.
Bangalore Nano has brought budding entrepreneurs, industry professionals and venture capitalists on a common platform to facilitate networking and business interactions.
Karnataka Home Minister B.S. Acharya said the state government had already allotted 14 acres for setting up India's premier institute of nanoscience and technology in Bangalore with Rs.1-billion (Rs.100 crore) grant from the central government. The nano institute will function under the aegis of Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), a deemed university of the Department of Science and Technology.
A nano park and an incubation centre will be set to make Bangalore a full-fledged nano city. As an emerging field, the nanotechnology industry has the potential to become a trillion dollar sector globally in the next decade from around $9 billion currently. Indian government would assist the industry in developing nanotechnology products for common use, with seed capital and institutional loans.
The union ministry of science and technology will soon issue guidelines to the industry for taking up specific projects that will enable mass production of products with nano materials. As part of its national mission to promote nanoscience and nanotechnology, the government has decided to involve the industry in focusing on products that will have mass applications in the areas of safe drinking water, food, healthcare, energy and mobility.