Indian companies are on the top position globally when it comes to growth in research and development (R&D) investments, according to a study by the European Commission. There are 14 Indian companies that are a part of the list of the top 1,500 entities worldwide in terms of their absolute annual R&D investments.
India is one of the leading offshore destinations in delivering engineering research and development (ER&D) services with a market share of 22 per cent. The ER&D market in India is expected to grow to US$ 42 billion by 2020, according to a Zinnov study titled, 'Engineering R&D: Advantage India'.
The Natural Environment Research Council (NERC), United Kingdom (UK) and the Earth System Science Organsation (ESSO), Ministry of Earth Sciences (MoES), India, have signed a memorandum of understanding (MoU) to facilitate cooperation between UK and the Indian earth system science and environmental research communities. In 2012, the two establishments jointly funded five collaborative research projects for Changing Water Cycle programme.
Indian ER&D outsourcing industry is set to reach US$ 37 billion-US$ 45 billion by 2020, according to a report by Nasscom and Booz & Co. This will be about 35 per cent of the overall ER&D market, which is estimated to touch US$ 118 billion by 2020, while being currently pegged at US$ 10.2 billion.
The services sector which includes R&D, testing and analysis besides other related segments attracted foreign direct investments (FDI) worth US$ 37,062.75 million between April 2000 to January 2013, an increase of 19.51 per cent to the total FDI inflows in terms of US$, according to the latest data published by Department of Industrial Policy and Promotion (DIPP).
The largest overall increase in R&D investments was reported by companies based in India with 35.1 per cent, followed by China at 28.1 per cent, highlighted the study by the European Commission.
Indian Space Research Organisation (ISRO) is planning to accomplish the following missions in the next one year - 3 Polar Satellite Launch Vehicles (PSLV), 1 Geosynchronous Satellite Launch Vehicle, 2 Communication Satellites, 1 Earth Observation (Ocean) Satellite, 1 Meteorological Satellite, 1 Navigation Satellite and Mars Orbiter.
The Indian Institute of Astrophysics (IIA) plans to set up the world's largest solar telescope in Ladakh at an expected cost of Rs 150 crore (US$ 27.57 million). The solar telescope is planned for completion in 2017. The device will help Indian scientists to carry out research aimed at studying the sun's atmosphere.
The Prime Minister's fellowship scheme for doctoral research has been launched in New Delhi by Mr S Jaipal Reddy, Union Minister for Science and Technology. The scheme will award 100 annual fellowships and the duration of fellowships would be four years.
In addition, India has become the hub for semiconductor design with nearly 2,000 chips being designed per year and more than 20,000 engineers are working in various aspects of the sector, as per Department of Electronics and Information Technology (DeitY).