Union Minister of State, Personnel, Public Grievances, Pensions, Minister of State, Science and Technology, Earth Sciences, Atomic Energy, and Space, Dr. Jitendra Singh said that India ranked sixth globally in research and development investment in terms of US$ purchasing power parity (PPP).
He added that as per the most recent data, India has consistently increased its spending on research and development (R&D) over the past ten years, nearly tripling it from US$ 4.31 billion (Rs. 39,437.77 crores) in 2007-08 to US$ 13.90 billion (Rs. 1,13,825.03 crores) in 2017-18.
The government has been working hard to increase R&D spending and provide researchers with appropriate chances, such as extramural funding schemes. In order to improve opportunities for research students pursuing Ph.D. and Post-Doctoral research, he continued, the government has also taken several initiatives.
Furthermore, he also mentioned that the Science and Engineering Research Board (SERB) has recently taken a decision to increase the number of Post-Doctoral Fellowships (PDFs) from 300 annually to 1,000.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.