India, on the occasion of National Science Day, underscores its commitment to ‘Science for Sustainable Development’ in its pursuit of becoming a developed nation by 2047. Positioned as a cornerstone of this transformation, science and technology face a critical imperative: sustained and substantial funding.
Investment Landscape:
Despite ambitious science and technology goals, India grapples with one of the lowest allocations for fundamental research globally. Recent data reveals a dip in Research and Development (R&D) expenditure to 0.64% of GDP from 0.8% in 2008-2009, signalling a concerning trend. This decline is at odds with the Government aspirations, clearly outlined in the 2013 Science, Technology, and Innovation Policy and reiterated in the 2017-2018 Economic Survey, which aimed at doubling the spending on R&D.
Global Benchmarks:
Comparatively, leading economies allocate between 2% and 4% of their GDPs to R&D. In 2021, OECD member-countries averaged 2.7% GDP spending on R&D, with stalwarts like the U.S. and the U.K. consistently surpassing the 2% mark for the past decade. Experts advocate for India to earmark at least 1%, ideally 3%, of its GDP annually until 2047 for R&D to yield transformative developmental outcomes.
Challenges and Call to Action:
The reasons behind India’s dwindling R&D spending remain unclear, potentially rooted in a lack of coordination among government agencies and the necessity for heightened political will. As India envisions itself as a ‘science power,’ experts emphasise the urgency of aligning funding priorities with strategic objectives, necessitating a comprehensive and sustained financial commitment.
Vision 2047:
To fulfil its ‘Science for Sustainable Development’ vision and emerge as a global science leader, India must transcend budgetary constraints and prioritise a robust, sustained investment framework. The call for increased R&D spending echoes as a clarion call for securing India’s future as a scientific powerhouse. In the quest for scientific excellence, the onus lies on India to foster an ecosystem where sustained funding becomes the bedrock for transformative breakthroughs and propels the nation towards its developmental goals.
