While India wants to be at par with countries like China and US in the field of science and technology, it’s investment lags far behind these countries.
To further boost scientific research, government aims to invest 2 per cent of its GDP on research and development under the 12th Plan against only 0.88 per cent in 2011-12.
In Rajya Sabha, Science and Technology Minister Harsh Vardhan informed that the US and South Korea had invested 2.76 per cent and 4.04 per cent of their GDP, respectively on research and development (R&D) in 2011-12. But India’s investment is higher than countries such as Brazil, Canada and Sweden which spent 27.4, 24.7 and 13.4 US billion dollar, respectively.
In terms of Purchasing Power Parity, Indian investment in science and technology during the year was 36.2 US billion dollar whereas China, the US and South Korea invested 205.4, 429.1 and 58.4 US billion dollar respectively, he said.
“The private sector contribution in R&D as percentage of GDP in India is only one-third while two-third is being contributed by the public sector. The private sector participation in India’s R&D has not kept pace with many developed and emerging countries in the world,” he added.