According to the Economic Survey 2024-25, what is the current expenditure on Research and Development (R&D) as a percentage of India’s GDP?​

Correct option is C

Ans. (c) 0.64%

Explanation:

According to the Economic Survey 2024-25, India's total expenditure on Research and Development (R&D) stands at 0.64% of its Gross Domestic Product (GDP). This figure is notably lower compared to other countries that prioritize R&D investment. For instance, China allocates approximately 2.41%, the United States around 3.47%, and Israel about 5.71% of their GDPs to R&D activities.

Information Booster:

•        Global Comparison: India's R&D expenditure as a percentage of GDP is significantly lower than that of leading nations in innovation and technology development.

•        Private Sector Contribution: In India, the private sector contributes to 36.4% of the country's Gross Expenditure on R&D (GERD), whereas in China and the US, the private sector's contribution is substantially higher, at 77% and 75%, respectively .

•        Patent Growth: Despite the relatively low R&D expenditure, India has seen a substantial increase in patent filings, with nearly one lakh patents granted in FY24, up from under 25,000 in FY20.

•        Global Innovation Index: India has improved its position in the Global Innovation Index, advancing from 81st place in 2015 to 40th in 2023, indicating progress in innovation capabilities.

•        Research Output: The number of PhD enrollments in India has risen to 2.13 lakh in FY22, up from 1.17 lakh in FY15, reflecting a growing emphasis on advanced research training.

•        Technology Commercialization: The Economic Survey highlights the need for better integration between higher education, industry, and research to accelerate the commercialization of technologies and innovations.

Why the Other Options Are Incorrect:

•                    0.45%: This figure is lower than the actual R&D expenditure percentage of 0.64% as reported in the Economic Survey.

•                    1.15%: This is higher than the reported R&D expenditure percentage.

•                    1.28%: This is also higher than the reported R&D expenditure percentage.