This document discusses the need for collaborative research and development between the Indian Council of Agricultural Research (ICAR) and private industry in India to address challenges in agriculture. It outlines key challenges like meeting food security needs and adapting to climate change. Collaborating can leverage each stakeholder's strengths for mutual benefit and commercialize research faster. The document proposes prioritizing joint research objectives, pooling resources, and ensuring benefits and intellectual property are shared appropriately. It provides examples of priority research areas like new crop varieties, abiotic stress tolerance, quality traits, integrated pest management, and horticulture varieties for specific end uses. It suggests synchronizing research, extension, and value chains through partnerships and programs.