Explanation:

At celebration of the 9th Foundation Day of GITA, Union Minister of Science & Technology underlined how Global Innovation and Technology Alliance (GITA) served as a catalyst for nurturing innovation and industrial R&D.

• Global Innovation & Technology Alliance (GITA) is a “not–for–profit” Section-8 Public Private Partnership (PPP) company.
• It is promoted jointly by the Technology Development Board (TDB), Department of Science & Technology (DST), Government of India and the Confederation of Indian Industry (CII).
• The Prime Minister’s Council on Trade & Industry had, in 2010, recommended incorporation of a Government’s arm’s length entity under PPP mode to professionally manage the Government’s funds for providing flexibility to industry for undertaking R&D along with global partners.

The GITA platform encourages industrial investments in innovative technology solutions by

• Mapping technology gaps,
• Undertaking expert evaluation of technologies available across the globe,
• Facilitating techno–strategic collaborative partnerships appropriate for Indian economy,
• Connecting industrial and institutional partners for synergistic matchmaking and
• Providing soft funding for technology development / acquisition / deployment.

Hence both statements are correct.