Industry-Academia Interactions

How different are the industry-academia relations in India compared with the US and European countries?
In the Indian scenario, teachers are overburdened and are involved in too many non-academic activities resulting in poor research output. There are only a handful of universities and institutions with a serious focus on research.
In India, industry-academia interrelations are not very strong. Both industry and academia are not taking necessary initiatives to strengthen the relations as they do not consider this as a priority issue. On the contrary, in the US and European countries there is a strong bond between industry and academia with industry sponsoring many projects in universities and reputed institutions.