India’s R&D spending crosses 0.8% of GDP, first time since 2010
India’s research and development spending crossed 0.8% of GDP for the first time since 2010, official data showed, marking a structural shift. Private industry’s share of national R&D spending rose from 45.5% in 2021-22 to 51.8% in 2023-24 — the first time businesses contributed more to India’s research effort than all levels of government combined.
Nabka Insight
The R&D-to-GDP ratio and the private sector’s rising share are frequently tested economy indicators.
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- R&D spending crossed 0.8% of GDP, first time since 2010.
- Private industry share: 45.5% in 2021-22.
- Rose to 51.8% in 2023-24.
- First time business R&D exceeded all government combined.
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