Lakshmipriya

Science and Technology Development in India India's ranking in global S&T indices improved to 46 as per Global Innovation Index (GII) Science and Technology ADVANTAGE INDIA ROBUST DEMAND * As per the Economic Survey 2022, India’s GERD as a percentage of GDP stood at 0.66%. * Expanding middle-class and increasing affordability are demand drivers for technologically advanced products. ATTRACTIVE OPPORTUNITIES * India is the top exporter of IT products, has the third-largest pharma sector and a fast-growing contract research segment. * India stands third globally in the number of peer-reviewed Science and Engineering Publications. POLICY SUPPORT * In September 2021, India published the amended Patents Rules (2021) and reduced fees by 80% for educational institutions. RISING PRIVATE ACTIVITY * Establishment of CoEs in various areas. NMITLI initiative on PPP basis. * Increased investment by private players. Setting up R&D centres. SNAPSHOT SHOWCASE INFOGRAPHICS REPORTS RELATED NEWS Last updated: Apr, 2022 SCIENCE AND R&D INDUSTRY REPORT Mar, 2022 INTRODUCTION India ranks third among the most attractive investment destinations for technology transactions in the world. Modern India has had a strong focus on science and technology, realising that it is a key element for economic growth. India is among the topmost countries in the world in the field of scientific research, positioned as one of the top five nations in the field for space exploration. The country has regularly undertaken space missions, including missions to the moon and the famed Polar Satellite Launch Vehicle (PSLV). India is likely to take a leading role in launching satellites for the SAARC nations, generating revenue by offering its space facilities for use to other countries.