India becomes R

New Delhi, Feb 25 (UNI) India has a tremendous potential to pitch in for greater role in sourcing of new technologies by strengthening its capabilities and emerging as an R&D hub for the world, a study said.

The study conducted by Exim Bank has reviewed the R&D scenario in the country and said the investment in its activities has attained a level of Rs 21,639 crore in 2004-05, a share of less than one per cent in national GDP.

It has observed that R&D intensity of business firms in the country is around 0.5 per cent, however, the sectors like pharmaceuticals, automobiles, electronics and auto-components have greater intensity than others.

Strengthening innovation and education systems, skill development and enhancement, increasing government funding in R&D and seeking international cooperation in science and technology are the strategies to strengthen R&D capabilities in the country, the study said.

UNI