India's Lack of Investment in Research and Development Sector is a Matter of Concern!! Know why

 Importance of Research and Development For India

Research and development is a very important factor for technological growth of a country. Every major countries in the world are investing heavily on research and development as lack of investment in research and development  sector could stagnate a country's growth.

India’s is lacking behind in investment in research and development sector and it is a matter of concern for the growth of the country. In this article we will discuss about his topic in detail.

India is Lacking behind From other Countries in Research and Development:

Where China is spending about 2 percent of their GDP on Research and Development, India spends about 0.7 percent of GDP on Research and Development, which is very less. If India doesn’t spend much on this sector then India would be nowhere in the future in comparison to China. Germany  spends about 3 percent of their GDP in Research and Development.

Results of Lack of Investment in Research and Development:

India experiences huge brain drain every year as more and more Indian talents are moving out of India because of lack of funding and opportunity in research and development. So if the government increase the spending in Research and Development then this brain drain might reduce and Indian talents might stay in India and contribute to the growth of India.

UNESCO Report on India’s Investment in Research and Development:

UNESCO published a report in 2021 in which they stated that India’s funding in Research and Development sector is unsatisfactory. The problem with India is that even if government decides to increase funding in this sector there is no guarantee that after next election if a new party comes to power they will continue the funding. What India need is a long vision for may be 10-20 years for Research and Development, short sightedness won’t take India anywhere.

Difference Between USA and India in research and Development sector:

If India continues to neglect the funding in this sector then India might never become self reliant in the defence sector. India have to continue to be dependent on other countries for defence equipment. USA has become so strong in the defence sector due to its huge investments in Research and Development. India need to think about it and make a clear strategy for investment in this sector.