Growth of Science & Technology Industry - Infographic
Latest update: December, 2017
India’s R&D investments increased to US$ 71.48 billion in 2016 from US$ 66.49 billion in 2015.
R&D investments have helped Indian companies to overcome tight competition with affordable products internationally.
Note: R&D - Research and Development Source: Nature Magazine, Battelle
India’s share of global R&D spending rose to 3.67 per cent in 2016 from to be at 3.53 per cent in 2015. It is further expected to rise to 3.75% in 2017.
As of March 2017, World Intellectual Property Organisation (WIPO) stated that India is emerging as a leader in frugal and demand driven innovation among various countries across the globe.
In May 2017, the central government has introduced various startup intellectual property protection schemes with an aim to ease patent filing for startups and promote awareness and adoption of IP rights. To facilitate protection and commercialising of IPRs, these schemes will be providing access to high-quality Intellectual Property services and resources. Moreover, under these schemes, the central government bears the fees of the facilitators for patents, trademarks or designs that a startup may file. Startups only have to bear the cost of the statutory fees payable.
Notes: R&D - Research and Development, IPR - Intellectual Property Rights, IP - Intellectual Property