Industry-led, not-for-profit body Indian Foundation for Quality Management (IFQM) on Tuesday emphasized the need to strengthen industry-academia collaborations to achieve the vision of ‘Viksit Bharat 2047’.

IFQM highlighted that fostering closer ties between corporate entities and educational institutions is a critical national priority to drive innovation, skill development, and prepare a workforce ready for the challenges of the future.

Founding members of IFQM include major conglomerates such as Tata Group, Larsen & Toubro, Biocon, Boeing India, and Sun Pharma.

“The IFQM is playing a pivotal role in fostering these partnerships to enable innovation, capability development, and a future-ready workforce aligned with India’s long-term economic aspirations,” the body said in a statement.

By promoting collaboration between industry and academia, IFQM aims to accelerate research, skill building, and adoption of best practices, supporting India’s journey towards becoming a globally competitive and technologically advanced economy by 2047.