India pushes private firms to fund research for 2047 tech leadership
Union Education Minister Dharmendra Pradhan has urged private companies to boost their spending on research and innovation. He stressed the need for greater collaboration between government and industry to drive progress. His remarks came as India aims to strengthen its position as a global leader in technology and startups by 2047. India’s ranking in the Global Innovation Index has climbed from 85th to 38th in recent years. The country has also become a major hub for startups, with numbers growing from a few hundred to over 2.5 lakh. Pradhan highlighted these achievements while addressing the need for further growth.
Currently, 70% of research funding in India comes from the government. The minister called for a more balanced approach, with industry contributing at least half of the total investment. To support this push, a Rs 1 lakh crore fund has been set aside for research, development, and innovation, including startup initiatives. Pradhan also emphasised that institutions must stay accountable to society. They should clearly communicate how their research benefits the public, particularly the poor and the Global South. IIT Madras was singled out for its strong efforts in driving innovation and setting an example for others. The broader vision is to turn India into a developed nation by 2047. The goal includes creating sustainable solutions that other developing countries can adopt as a model for growth.
The government has allocated significant funds to accelerate research and innovation. With a focus on startups and private sector involvement, the plan aims to build a self-reliant India. Success in this area could position the country as a key problem-solver for the Global South in the coming decades.
