09-01-2009
India at the forefront of innovation
| India will emerge as the next global hub for innovation, according to a study on "R&D Ecosystem in India" conducted by Evalueserve and released by the British High Commission and the Canadian High Commission in India. India targets to increase its R&D spend from less than 1 percent of GDP to 2 percent by 2012 under the 11th Five-Year Plan. The move will catapult India to the league of developed nations that spend 2.5 percent of their GDP on R&D on an average. The Indian R&D ecosystem comprises various supporting infrastructure, government departments, research organisations, funding institutions and industry associations. The government is focusing on public-private partnerships, such as knowledge parks and incubator programmes, to promote commercialisation, transfer and diffusion of technology. |