“Revolution”: An investor in spending on research and development in India amid a discussion on the priorities of deep technology

On Monday, the investor and author Manuj Aroura committed deep technology and innovation, as they published a sarcastic note on X (previously Twitter) about low spending and development in the country (R&D).

“Countries like the United States, Japan, Israel, etc., invest 4-6 % of the annual GDP in the field of research and development (called deep technology or any name). We spend 0.7 %! This will add an additional 10 thousand rupees 0.03 % to this writing by 0.7 %, making it 0.73 %. Wow! Revolutionary,”.

This post comes in the wake of government and public public discussions about the need for Indian startups to transform from consumer technology to deeper innovation – in areas such as artificial intelligence, space, biotechnology and material science. The Minister of Syndicate Commerce recently urged the founders of startups to “the high goal” and measure themselves against global standards, and called on the sector’s focus on “lifestyle applications” instead of deep technology that focuses on the future.

While Arora did not mention GOYAL directly, his position is widely seen as a criticism of the lip service paid for deep technology aspirations without a proportional public investment. According to the Economic Survey 2022-23, Research and Development Expenditure in India has come to about 0.7 % of GDP for years – among the lowest rates of major economies. In contrast, Israel spends about 5.6 %, South Korea over 4.8 %, and the United States is about 3.5 %.

Even pumping 10,000 rupees (about $ 1.2 billion), as referred to in the Arora Publishing, will barely move the needle to the percentage of GDP that has been spent on research and development – while highlighting the extent to which India should go to match the aspirations of innovation with investment.

The publication adds to an increasing group of voices-including the founders of startups and political commentators-they are not called to the hustle and bustle of the private sector, but also structural support in the form of the patient’s capital, university reform associated with research, and bureaucratic obstacles and a long-term national vision of technology-led growth.