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Grand strategies for development looking ahead not only for years but for decades need to be revisited in many areas of development policy. One such field is technological development. India’s R & D spending as a percentage of its gross domestic product (GDP) is well below that of major economies. It was 0.67% in 2018-19, but it was more than 2% and more than 3% in China and the European Union. It is 4.5% in the United States and Japan, and 4.5% in South Korea. Moreover, this percentage has stagnated in India but is steadily rising in other major economies. Due to low salaries in India, the differences may not be very noticeable when looking at the numbers used in R & D. But when it comes to results, relative spending is not misleading.

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First Edition: Thursday, July 28, 2022 22:01 IST

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