Gross Expenditure in Research and Development (GERD) nearly triples in last decade, says Union Minister Dr. Jitendra Singh

The Gross Expenditure in Research and Development (GERD) in India has increased almost threefold over the past decade, according to Union Minister Dr. Jitendra Singh. In a written reply to a question in Lok Sabha, he stated that the government has taken several measures to promote R&D spending in the country.

Dr. Singh, who holds multiple ministerial portfolios, including Minister of State for Science and Technology, M/o Earth Sciences, MoS Atomic Energy and Space, said that the government has raised plan allocations for scientific departments, encouraged private sector investment, and introduced flexible tools for public procurement.

To further stimulate R&D investment, the government has also established avenues for collaborative funding through public-private partnerships and other hybrid funding mechanisms. The corporate sector can now invest in technology business incubators or contribute to research efforts carried out by institutions and national research laboratories as part of their Corporate Social Responsibility (CSR).

The government has also introduced location-based tax incentives, enabling 100% deductions of profits generated from establishing and doing business in northeastern states of India, to attract more investment in R&D in those regions.

Dr. Singh’s remarks come as the government is working to achieve its target of increasing GERD to 2% of GDP by 2025, up from its current level of around 0.7%. The increase in GERD is seen as crucial for India to become a global knowledge superpower and achieve its development goals.

India has made significant strides in science and technology in recent years, with breakthroughs in fields such as space exploration, biotechnology, and nanotechnology. The country is also home to a large number of skilled researchers and scientists, with a growing number of research institutions and laboratories.

With the government’s continued efforts to promote R&D investment, India is poised to make even greater strides in science and technology in the years to come.

#GERD #R&D #ScienceAndTechnology #CorporateSocialResponsibility #PublicPrivatePartnerships #LocationBasedTaxIncentives #NortheasternStates #GDP #India #GlobalKnowledgeSuperpower #Biotechnology #Nanotechnology #ResearchInstitutions #SkilledResearchers #Breakthroughs #GovernmentEfforts #CollaborativeFunding #HybridFundingMechanisms #FlexibleTools #PublicProcurement