Hyderabad: India is amongst the top 13 countries in terms of public sector in research and development along with the US, Russia, UK and others, says a survey by the department of science & technology, Uni-on minister of science and technology and earth sciences Dr Harsh Vardhan said at the two-day Global R&D Summit on Friday.
The summit was organised by FICCI in partnership with the DST. “Over 80 per cent of money spent on R&D in India comes from research agencies like DRDO, Isro, and CSIR,” Dr Vardhan said. “India offers distinct advantages to offer R&D. Firstly, the burgeoning aspirational middle class presents a huge market for a host of products. This is a great starting point for innovation and R&D.”
India is among the top-ranking countries in the field of basic research. The year 2018 has seen India’s resea-rch and development with technology-led innovation getting further recognition as one of the most powerful instruments of growth and development. In many cases, India offers R&D super deductions to the tune of 200 per cent, which is at par with the best in the world.
The Union minister added that India boasts of a large pool of English-speaking manpower, which is hard to find in most countries. This makes execution of R&D plans much easier. He pointed that 2018 has seen India’s research and development with technology-led innovation getting recognition.