Modi’s appeal took off from his 2022 Independence Day address where he had emphasised the need for ideas to be incubated, developed, tested and applied to real-life situations institutionally and not in an ad-hoc manner. An institutional framework alone can help create the structure for mentorship, access to opportunities and help convert research into real-world applications and opportunities. This, in turn, requires funding, institutional support and patience. India’s R&D spending must increase from its low levels of 0.7% of GDP in 2017-18. This is less than half of the global average of 1.8%. Government spending accounts for 55-60% of R&D spending. Spending by private entities, businesses and educational institutions must go up.
India’s R&D should focus on leveraging low-cost, accessible technology to meet the developmental needs of its population. It is time to put one’s money where one’s mouth is when it comes to talking about unlocking our demographic dividend.