In any developing country that too in democracy, elected Govt wants to retain power hence want to make citizen happy with shortcuts I.e freebies, subsidies etc.
R&D takes much longer period to justify the money put in it hence Govt shows less interest in R&D expenditure.
In nutshell R&D is long term vision while our politicians are in hurry to score brownie points hence gives less priority to R&D.
As per Economic survey of India 2017-18, India’s spending on R&D is just 0.6% of GDP vs that of Israel 4.3%, South Korea 4.2%, US 2.8% and China 2.1%. China’s absolute R&D spending is 20 times more than India.
Universities play a very important role in R&D but shockingly not even 1 Indian university is in top 300 universities of the world. At the same time, private sector plays a very important role in innovation but as per Forbes reports, there are only 26 Indian companies in the list of the top 2,500 global R&D spenders compared to 301 Chinese companies. This means the infrastructure for innovation is lacking in India at the grass-root level.
Currently, a bulk of R&D expenditure goes from Central Government followed by some private companies. State Government are least bothered about spending money on R&D.
Let’s share this information to make everyone aware of Govt’s apathy towards R&D.
Jai Hind!!
Manoj Tripathi
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