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The Australian Academy of Science is excited about the government’s plans to introduce a Future Made in Australia Act. According to Professor Chennupati Jagadish, president of the academy, science plays a critical role in shaping Australia’s future.
Professor Jagadish highlighted the importance of science in driving innovation and industry growth. However, he also noted that Australia has struggled with inconsistencies in research and development policies over the past twenty years. The lack of identification of science capability gaps and a plan to address them has hindered the nation’s ability to achieve its national goals.
The link between science and economic development is undeniable, according to Professor Jagadish. He stressed that an outdated science system cannot support Australia’s ambitions for economic growth and resilience. This is evident when comparing Australia to other countries like the US, China, Japan, the EU, and the Republic of Korea, who are significantly boosting their investments in science to diversify their economies and increase sovereign capability.
Professor Jagadish emphasized the importance of a strategic roadmap and a long-term commitment to increasing government investment in research and development. Such investments are crucial for enhancing Australian productivity and industrial capability. He concluded that a successful industrial policy relies on a robust, innovative, and sustainable science system.
