Piyush Goyal On India’s R&D Challenge: Why Private Sector Innovation Must Accelerate

India's spending on research and development remains far below global innovation leaders, with R&D expenditure at around 0.7% of GDP. Speaking on the issue, Commerce and Industry Minister Piyush Goyal highlighted the need for stronger private sector participation in innovation. He outlined the government's efforts to boost R&D through a $10 billion public funding initiative, partnerships between industry and academia, support for startups, and reforms to intellectual property laws. Goyal emphasized that India's young talent pool, low-cost infrastructure, and large-scale testing capabilities can help transform the country into a global innovation hub if businesses invest more aggressively in research and technology development. #IndiaInnovation #ResearchAndDevelopment #StartupIndia #TechnologyNews #EconomicGrowth ----------------------- Thank You for watching! Do not forget to Like | Comment | Share ----------------------- About the channel Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others. Follow us at: Website: https://www.businesstoday.in WhatsApp: whatsapp.com/channel/0029Va4Hd309hXFCqY62yD2I Facebook: https://www.facebook.com/BusinessToday X: https://twitter.com/business_today Instagram: https://www.instagram.com/business_today/