Move to increase R&D Expenditure to two percent of GDP

Introduction

India’s Gross Expenditure on Research and Development (GERD) as percentage of GDP has remained so far less than 1% as compared to the developed and emerging economies despite increase in absolute terms. Stating this in Rajya Sabha today the Minister for Science & Technology and Earth Sciences, Dr. Harsh Vardhan said India had invested 0.88% of its Gross Domestic Product (GDP) towards Research and Development (R&D), whereas USA and South Korea spent 2.79% and 3.36% respectively during 2011-12. Among BRICS nations, Brazil, Russia and China also spent more than 1% of their GDP on R&D, he added. 

The Minister said the Science, Technology and Innovation (STI) Policy, 2013 envisages increasing R&D expenditure to 2% of GDP with enhanced participation of private sector through policy and reform processes. In addition, Department of Science and Technology (DST) brought out a White Paper on policy environment for “Stimulation of investment of private sector into Research & Development in India”. 

Source

Press Information Bureau, April 23, 2015