It has been hectic over the last couple of weeks in New Delhi after the 2018 budget was presented following up on the Economic Survey.
While the former didn’t seem to pay too much attention to it, it was heartening to see a novel dimension in economic surveys with a discussion on the abysmal rates of R&D (research and development) spending as a percentage of gross domestic product that the economy has seen over the past decade or more.
The survey additionally pointed to how a single organization like Samsung spends on R&D close to what India is spending on it as an economy. Read more…
Professor Rajendra Srivastava is Dean and Novartis Professor of Marketing Strategy and Innovation at the Indian School of Business.
Chirantan Chatterjee is Assistant Professor of Economics and Public Policy and Research Fellow at the Bharti Institute of Public Policy at ISB.
Source: This article is extracted from Livemint dated February 23, 2018.