'This is inexcusable...': Sanjeev Sanyal calls on private sector to bridge gap with global firms in R&D spending
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India's R&D investment as a percentage of GDP is 0.64%; significantly lower than China (2.41%), US (3.47%), and Israel (5.71%); Sanjeev Sanyal emphasizes the need for private sector to increase R&D spending; India's gross expenditure on R&D (GERD) rose from Rs 60,196.8 crore in FY11 to Rs 127,381 crore in FY21; private sector contributes only 36.4% to GERD, compared to 77% in China and 75% in the US; India granted nearly one lakh patents in FY24, up from under 25,000 in FY20; India's Global Innovation Index rank improved from 81st in 2015 to 40th in 2023; Sanyal's post on X highlights the ambition needed from the business sector.
#R&d #SanjeevSanyal #India #Economy #Innovation #Patents #PrivateSector #GlobalComparison #EconomicSurvey #Investment
https://www.businesstoday.in/india/story/this-is-inexcusable-sanjeev-sanyal-calls-on-private-sector-to-bridge-gap-with-global-firms-in-rd-spending-443662-2024-08-30
Business Today /
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2024-08-30 08:02:21
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npub10krv5xyz57fwv0upm7fgx90w8m2xulqkzzxml2d9d433rwrlmwpsyffpj8Published at
2024-08-30 08:02:21Event JSON
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"content": "'This is inexcusable...': Sanjeev Sanyal calls on private sector to bridge gap with global firms in R\u0026D spending\n==========\n\nIndia's R\u0026D investment as a percentage of GDP is 0.64%; significantly lower than China (2.41%), US (3.47%), and Israel (5.71%); Sanjeev Sanyal emphasizes the need for private sector to increase R\u0026D spending; India's gross expenditure on R\u0026D (GERD) rose from Rs 60,196.8 crore in FY11 to Rs 127,381 crore in FY21; private sector contributes only 36.4% to GERD, compared to 77% in China and 75% in the US; India granted nearly one lakh patents in FY24, up from under 25,000 in FY20; India's Global Innovation Index rank improved from 81st in 2015 to 40th in 2023; Sanyal's post on X highlights the ambition needed from the business sector.\n\n#R\u0026d #SanjeevSanyal #India #Economy #Innovation #Patents #PrivateSector #GlobalComparison #EconomicSurvey #Investment\n\nhttps://www.businesstoday.in/india/story/this-is-inexcusable-sanjeev-sanyal-calls-on-private-sector-to-bridge-gap-with-global-firms-in-rd-spending-443662-2024-08-30",
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