India's private sector has overtaken the government in R&D spending for the first time, accounting for 51.8% in 2023-24. However, part of the surge is due to better data capture. India's R&D intensity remains low at 0.84% of GDP. The Anusandhan National Research Foundation (₹50,000 crore) aims to boost private sector research and deepen the research workforce.
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- ›Private R&D Share (2023-24): 51.8%
- ›R&D as % of GDP (India): 0.84%
- ›Target this Data: 51.8% private share in national R&D spend (2023-24); India's R&D at 0.84% of GDP; ANRF corpus ₹50,000 crore.
- ›Target this Nodal Body: Department of Science and Technology (DST) for the data; Anusandhan National Research Foundation (ANRF) for the scheme.
- ›Target this Legal Point: Mandatory sustainability disclosures for listed firms (SEBI) and RBI norms on reporting research – these caused better measurement.
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