From mint · Vinod Dham,Namrata Rajagopal · · 1m
India Must Boost R&D to Achieve Viksit Bharat
India needs to increase R&D investment to reach its 2047 economic goals.
In brief
India needs to increase R&D investment to reach its 2047 economic goals. India must significantly raise R&D spending to compete globally as it aims for Viksit Bharat by 2047. Originally reported by mint.
India's Viksit Bharat Vision
India aims to become the world's third-largest economy by 2047.
R&D Investment Gap
India's R&D spending at $76 billion lags behind China's $786 billion in 2024.
Public Investment Model
Taiwan invested in semiconductors to become a global chip leader producing 90% of advanced chips.
US Innovation History
US foundational innovations like semiconductors and mRNA vaccines originated from strategic public funding.
India's Startup Ecosystem
India raised over $160 billion in startups since Prime Minister Modi's leadership.
AI Mission Funding
India's five-year AI Mission budget is less than OpenAI's monthly research spending.
Three Systemic Shifts
India needs ecosystem integration, faster patent processes, and a risk-taking culture for innovation.
The big picture
India must significantly raise R&D spending to compete globally as it aims for Viksit Bharat by 2047.
