Space HubIndia’s R&D Challenge: Why Private Industry Must Lead the Next Innovation Wave
It is safe to state that India has made itself known to be among the most rapidly developing economies in the world. India is a frontrunner in terms of digital public infrastructure, space exploration, pharmaceuticals, and IT. However, in spite of all these amazing accomplishments, there exists a structural problem which prevents India from innovating low research and development spending, especially by private companies. While India produces more than a million engineering and science students annually and has one of the largest startup ecosystems in the world, India’s R&D spending is only 0.6–0.7% of GDP and much less than innovative [...]
It is safe to state that India has made itself known to be among the most rapidly developing economies in the world. India is a frontrunner in terms of digital public infrastructure, space exploration, pharmaceuticals, and IT. However, in spite of all these amazing accomplishments, there exists a structural problem which prevents India from innovating low research and development spending, especially by private companies. While India produces more than a million engineering and science students annually and has one of the largest startup ecosystems in the world, India’s R&D spending is only 0.6–0.7% of GDP and much less than innovative [...]
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