SME Times News Bureau | 22 Jul, 2019
Indias spending on Research and Development (R&D) as a percentage
of GDP has remained at 0.7 per cent over a decade, the Lok Sabha was
informed on Monday.
This is much lower compared to 4.3 per cent in Israel, 2 per cent in China and 1.2 per cent in Brazil.
Human
Resource Development (HRD) Minister Ramesh Pokhriyal ‘Nishank' said in a
written reply that the low investment by the private sector was one of
the reasons for the low investment in R&D.
"One of the
reasons is less investment by the private sector on R&D, which
accounts for 65-75 per cent of the total R&D investment in most
technologically advanced countries of the world as compared to only
about 30 per cent in India," he added.
He said that though the
country's investment in R&D had tripled in the last decade, its size
as a percentage of GDP had remained at 0.7 per cent.
"As per
latest R&D Statistics released by the National Science and
Technology Management Information System (NSTMIS) of the Department of
Science and Technology (DST), R&D expenditure in India tripled from
2004-05 to 2014-15," he said.
