India needs to raise R&D spending to 2 pc of GDP by 2035 to boost manufacturing: Report
India's manufacturing growth is hampered by low R&D spending, currently at 0.6% of GDP, a report highlights.
To boost its manufacturing share, India aims to increase R&D expenditure to 2% by 2035, requiring greater private sector involvement and stronger innovation ecosystems.
This transition to innovation-driven manufacturing is crucial for long-term global competitiveness.
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