A special session was held to discuss India’s Research and Development (R&D) expenditure eco-system report during the Global launch of Global Innovation Index (GII) – 2019 in New Delhi. The report has been compiled by PMEAC.
Findings:
Investments in R&D are key inputs in economic growth. The impact of this is proven on productivity, exports, employment and capital formation.
India’s investment in R&D is a fraction of India’s GDP. It has remained constant at around 0.6% to 0.7% of India’s GDP.
This is below the expenditure of countries like the US (2.8), China (2.1), Israel (4.3) and Korea (4.2).
Government expenditure, almost entirely the Central Government, is the driving force of R&D in India which is in contrast to the advanced countries where private sector is the dominant and driving force of R&D spend.
Recommendations:
There is a need for greater participation of State Governments and private sector in overall R&D spending in India especially in application oriented research and technology development.
The growth in R&D expenditure should be commensurate with the growth of GDP and should reach at least two percent of GDP by 2022.
Dear Student,
You have still not entered your mailing address. Please enter the address where all the study materials will be sent to you. (If applicable).
