Research and development (R&D) forms the basis of future competitiveness of any country, as it’s critical for innovation, and India is no exception. Ironically, despite India having better scientific research institutions, R&D and innovation capabilities are lower than other BRICS countries.
According to last Economic Survey, India accounts about 3 per cent of USD 1.6 trillion of global gross expenditure on research and development (GERD) in Power Purchase Parity, which is around five times lower than that of its neighbour China.
Though, India scores better than China, Brazil and Russia on quality of scientific research institutions, the research undertaken in such institutions is not percolating down for commercial usage.
If we want India to be in the league of the most technologically developed nations, we essentially need to increase our budgetary provisions on the research and development works, unshackle our academic institutions from government control and give more autonomy to both the government and private institutions so as to enable them to carry out research and innovation works uninterruptedly..
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