# Private Industry Leads India’s Research Spending in 2023-24 2026-08-06T14:07:14+00:00 | Health & Science | Indian Opinion Desk Corroboration: 2 independent outlets Private industry accounted for 51.8% of India’s research spending in 2023-24, exceeding combined spending by all levels of government, according to Department of Science and Technology figures cited by The Hindu. Industry also employed more core researchers than government institutions. Transport companies were the largest corporate investors, followed by pharmaceuticals, biotechnology and information technology. Private research and development spending rose from ₹46,388 crore in 2020-21 to ₹82,975 crore in 2021-22, while total research spending reached ₹1.95 lakh crore. Analysts said new reporting rules and foreign subsidiary spending may explain part of the increase. India’s research spending remains 0.84% of GDP, with 354 researchers per million people. ## Coverage - thehindu.com Tags: private industry, R&D, research, science policy, technology Canonical: https://indianopinion.org/private-industry-leads-indias-research-spending-in-2023-24/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/private-industry-leads-indias-research-spending-in-2023-24/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.