BusinessPhoto: Deccan HeraldIndia's R&D Paradox: Spending High but Innovation Lags
Finance Minister Nirmala Sitharaman urges a shift from "Made in India" to "Imagined in India," emphasizing creativity and innovation over assembly. India spends $75.7 billion on R&D, the seventh largest globally, with firms like Lupin, Tata Motors, and Mahindra investing heavily. Despite over 4,000 R&D establishments and global competitiveness in pharma, auto, and engineering, the country struggles to translate spending into technologies, companies, and jobs, highlighting a structural challenge.
Deccan Herald·


