India's R&D spending reaches 0.83% of GDP in 2021-22
Technology
India just hit a new milestone in research and development, with R and D spending jumping to 0.83% of GDP in 2021-22, the highest it has been since 2009-10.
After years of lagging behind, this marks a solid comeback from the dip to 0.64% just one year earlier.
Private sector holds 51.8% of R&D
R and D funding is not just up; it is changing hands.
The private sector now makes up over half (51.8%) of all R and D spending, more than doubling its investment since 2020-21 and outpacing government growth.
With total R and D expenditure soaring by 53% in one year, it is clear that Indian industry is betting big on innovation right now.