India's R&D investment lags behind global peers, private sector involvement low: Economic Survey

The Economic Survey 2023-24 highlights India's progress in R&D, noting a significant increase in patents and improved global rankings. However, the country’s R&D investment as a percentage of GDP remains low compared to global leaders like China, the US, and Israel. The survey emphasizes the need for better integration of higher education, industry, and research, as well as faster commercialization of technologies. Despite advancements, challenges in investment and research application persist.