The aims and objectives of the Foundation have been defined as follows:-
1. To give awards, scholarships, fellowships and grants to individuals/teams of scientists, technologists and organizations in regard to specific projects with a view to promote scientific, industrial, economic and social research of significance to:-
Industrial and economic development;
Promotion of peace through science and technology;
Improvement in the working conditions of the scientific community;
Creation and development of scientific temper;
Socio-scientific and socio-economic studies in the developing countries.
2. To promote scientific and technological exchange of information, experience and advanced training between India and other countries, especially the developing countries.
3. To organize lectures,dialogues,symposia,seminars and publish periodicals, books, journals and magazines relating to the objectives of the Foundation.
4. To promote any other activity incidental to the above objectives (but not involving the carrying on of any activity for profit) as the Governing Council may from time to time determine.
5. To conduct research on science, technology and development studies supported by National and International Funding Agencies.