Accelerating private sector R&D in India
Episode description
Private players in India do not spend enough on Research and Development. India’s in-house industry R&D spending is a mere 36.4 per cent of India’s gross expenditure on R&D, compared to 77 per cent in China and 75 per cent in the US. This underinvestment limits India’s innovation capacity and, consequently, growth potential. In this episode, Suman Joshi and Sarthak Pradhan discuss the key policy impediments that hinder technological upgrades and innovation for Indian firms. Additionally, they explore potential solutions to address these challenges.
Resources referred to in the episode -
https://www.deccanherald.com/opinion/policy-tweakscan-push-private-sector-rd-3305698
https://www.nber.org/system/files/working_papers/w31308/w31308.pdf
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