Private Industry Leads India’s Research Spending in 2023-24

The Story in Brief

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.

The Indian Opinion

The figures show a stronger private role in research, but they do not establish a complete transformation. Better reporting may explain part of the rise, while some investment in areas such as semiconductors could include infrastructure. Claims of a decisive reversal should therefore be cautious. Sustained funding, reliable measurement and the ability to train and retain researchers will be important tests.

Source: thehindu.com

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