In a brand-new article in the Economic Times, authors Amit Kapoor, chair of the Institute for Competitiveness in India, and Rishi Jain, a researcher at the same insitute, shed light on India's innovation journey and progress in recent times in terms of start-ups and producing unicorns.
However, despite this positive development, the authors point out that the gross expenditure on Research & Development (GERD) has been a meager 0.7% of its GDP with its GERD per capita being about 43 (in current PPP $) according to data provided by the Ministry of Science and Technology. "For India to boost its innovation culture, this percentage needs to increase," Kapoor and Jain conclude.
- Publication date
- 24 June 2022