Growth of Science & Technology Industry - Infographic

In FY23, India’s technology industry revenue including hardware was estimated to cross US$ 245 billion (8.4% y-o-y growth), an addition of US$ 19 billion over last year.

Advantage India

Robust
Demand

*As per the Economic Survey 2022, India’s GERD as a percentage of GDP stood at 0.66%.

*Expanding middle-class and increasing affordability are demand drivers for technologically advanced products.

Attractive
Opportunities

*India is the top exporter of IT products, has the third-largest pharma sector and a fast-growing contract research segment.

*State University Research Excellence (SERB-SURE) to create a robust R&D ecosystem in state universities and colleges; Fund for Industrial Research Engagement (SERB-FIRE) to support research and development to solve critical problems that are relevant to industries in a public-private partnership mode.

Policy
support

*In September 2021, India published the amended Patents Rules (2021) and reduced fees by 80% for educational institutions.

Rising
Private Activity

*Establishment of CoEs in various areas. NMITLI initiative on PPP basis.

*Increased investment by private players. Setting up R&D centres.

Last updated: Oct, 2023

Major Indian States for Science and Technology

  • Maharashtra
  • Gujarat
  • NCR
  • Karnataka
  • Tamil Nadu
  • Telangana
  • Andhra Pradesh
  • Madhya Pradesh

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