India’s reforms moment in science and technology

The global landscape is undergoing a profound transformation. Geopolitical alliances are being redrawn, economic borders are tightening and tariffs, technologies, and entire supply chains are being weaponised with impunity. In this new world order, national sovereignty has become synonymous with technological sovereignty.

- Saurabh Srivastava

The Narendra Modi government's response to this changing landscape has been pragmatic and ambitious. Over the past decade, it has laid the foundation for a modern innovation economy — expanding its digital public infrastructure (DPI), opening strategic sectors such as defence and space to private enterprise, and nurturing the world’s third-largest startup ecosystem. Now, the Prime Minister has decided to tackle the chronic underinvestment in research and development (R&D).

In 2024, India’s total R&D expenditure stood at about $18 billion, less than one-twentieth of China’s $450 billion, and even below Israel's $25 billion. To achieve leadership in strategic and critical technologies, India must target at least $200 billion by 2035, roughly 3% of our projected GDP. This will require a significant increase in government funding and a greater commitment from industry, which today contributes to only a third of the country’s R&D spend, the opposite of the global trend. The challenge is considerable but not insurmountable.