Vikas Ecotech, a speciality chemicals company has announced that it has received recognition of in-house R&D Unit from Department of Scientific and Industrial Research, Ministry of Science & Technology, Government of India.
“Vikas Ecotech Limited is pleased to share an update from the R&D division that the company has got its DSIR Recognition with registration number F. No. TU/IVRD/4824/2022,” the company said in an exchange filing. The registration number has been received under ‘The Department of Scientific and Industrial Research’, Ministry of Science & Technology, Government of India, the filing stated further.
“Having a DSIR’s in-house recognition is a matter of pride as it benchmarks and acknowledges the company’s R&D capabilities on an international level, the company said, adding another feather to its cap. Vikas Ecotech Limited is passionate about finding innovative solutions to the most pressing environment and safety challenges of current times,” the company statement added.
“With the entitlement of DSIR recognition, the company can entail the status of ‘in-house R&D center’ which will help the international business related to R&D at zero customs duty, 100 percent exemption. Along with this, a reduced GST rate of 5 percent for R&D purchases and for receiving funding for R&D purposes from various government departments and agencies would be an added advantage for the company,” it further added.
