Browse:
Last Updated: July 03, 2020
Last Updated: May, 2020
India has a strong network of science and technology institutions and trained manpower. It has the third largest scientific and technical manpower in the world with 162 universities awarding over 4,000 doctorates degrees and 35,000 post graduate degrees annually. India’s R&D investment was estimated to reach US$ 94.06 billion* in 2019 from US$ 86.24 billion in 2018. India’s medical technology (MedTech) sector is forecast to reach US$ 7.8 billion in 2020 and US$ 9.6 billion in 2022.
India is among the top-ranking countries in the field of basic research. India stood third in the number of science and engineering publications in the world.
The engineering R&D and product development market in India is forecast to grow at a CAGR of 10.65 per cent to reach US$ 42 billion by FY22 from US$ 31 billion in FY19. By 2022, R&D expenditure is targeted to reach at least 2 per cent of the country’s GDP. In the Union Budget for FY20, the Government announced setting up of National Research Foundation for R&D.
The Government of India is extensively promoting research parks technology business incubators to promote innovative ideas till they become commercial ventures. In July 2018, Atal Innovation Mission along with MyGov launched Innovate India Platform with an aim to provide a common point for all the innovation happening across India. India Space Research Organisation (ISRO) launched space technology incubation centre in Tripura, Agartala. ISRO has planned 36 missions including satellites and launch vehicles in FY21.
In Union Budget 2020-21, the Government has announced allocation of Rs 6,302 crore (US$ 901.70 million) to the Ministry of Science and Technology, Rs 2,787 crore (US$ 398.77 million) to the Department of Biotechnology and Rs 5,385 crore (US$ 770.50 million) to the Council for Scientific and Industrial Research.
F- forecasted, * in Purchasing Power Parity terms
(Size: 905.34 KB )Click to access the Science and R&D Industry Archived Report
Browse:
Last Updated: July 03, 2020
India’s journey from manufacturing zero PPE kits to two lakh PPE kits per day India was manufacturing nearly zero PPE kits until January 2020. It was manufacturing only medical gowns, which was just one of the components of the kit, whereas, no PPE...
Self-Reliant India Movement: An opportunity At a time when the world is suffering from a deadly pandemic, India plans to convert this crisis into an opportunity and strengthen its fight by becoming Aatmanirbhar or ...
EXPORT OF MOBILE PHONES FROM INDIA: OVER 100% GROWTH IN FY20 Smartphones market in India have witnessed a phenomenal growth in the past few years. India overtook the United States (US) to become the second-largest smartphone market...
India's largest tech FDI: Decoding the Facebook-Reliance Jio deal The technology sector in India has witnessed its largest foreign direct investment (FDI) as Facebook announced its investment in Jio Platforms, a unit of Reliance Industr...
SUSTAINABLE AGRICULTURE - TURNING TO ORGANIC AND NATURAL FARMING Agriculture and its allied sector are crucial for the development of a country, especially for India where it is the largest source of livelihood. The sector plays a majo...
Digital India: Power To Empower The global economy is presently going through the fourth Industrial Revolution, also known as the Digital Revolution. This revolution is changing not only the way we inte...
Zomato: Top Of The Food Chain
Zomato, an Indian start-up is in the business of online food ordering. It initially launched Foodiebay.com in Gurugram in 2008, a website that scanned menus and provided ratings and recommendations on....
Join IBEF.org now. Enjoy FREE subscriptions downloads, updates and more.
Error
Already a member?
Login / Retrieve Password
GET NEWS ALERTS
