 "There is a general agreement in India, almost a consensus, that the country needs to undertake greater research & development (R&D) to progress faster and more effectively. While this is the objective, most also agree that India's expenditure on R&D")
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Illustration: Binay Sinha
It is often argued that India needs to substantially increase its research and development (R&D) capabilities to improve productivity, which is essential to compete in global markets. This, it has been pointed out, will also help expand India’s industrial base and create employment. Unfortunately, India’s spending on R&D, which is about 0.7 per cent of gross domestic product (GDP), is much lower than that of its peers and is a big impediment to accelerating economic growth. According to some experts, India needs to increase R&D expenditure to about 3 per cent of GDP. Industrialist Naushad Forbes has
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