India's R&D Investment: A Call for Action

Niti Aayog has issued a clarion call for India to elevate its research and development investment from the current 0.64% to a robust 2% of GDP within the next five years, to fortify the nation's R&D ecosystem.

The report, 'Ease of Doing Research & Development in India,' suggests reviving a 5% GST slab for R&D procurement and advocates for a strategic overhaul to attract higher private sector and philanthropic participation.

Current challenges, like inefficient fund allocation, inadequate human resources, and underdeveloped postdoctoral infrastructure, hinder research progress. Suggestions include fiscal incentives, data transparency, and streamlined processes to enhance efficiency and foster a vibrant research environment.

(With inputs from agencies.)