The NIFS is the only Institute in Sri Lanka which exists for the sole purpose of conducting research in natural and social sciences and philosophy for national development and scientific advancement.

The research carried out at the NIFS is also initiated as a response to burning national problems in Sri Lanka.

Besides engaging in basic research, the NIFS popularizes science, especially among school children, trains postgraduate researchers in the country to prevent brain drain and disseminates scientific knowledge to the wider public.

[2][3] Vidya Jyothi Professor Cyril Ponnamperuma was appointed as the director of the Institute of Fundamental Studies by President J. R. Jayewardena.

He was instrumental in setting up the permanent home of the institute in the Hanthana Hills with a modern laboratory complex.