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India scores poor on innovation
Feb 7, 2014

As per R&D spending data for 2011 (the latest available), the US maintained its status as the leader of innovation. This is because the country's R&D spend remained the highest - at just below 30% - of the global R&D spend. This is hardly surprising given that the rise in status and power of the US in the global economy in the past several decades has been a result of its focus on innovation. What is more interesting, however, is that while the US still leads the field as compared to others, its R&D share since 2001 has declined. This has been due to increasing investments being made by other countries. And also due to the fact that the US itself is not innovating as much as it once used to. In the meanwhile, China has been making rapid strides in innovation, while India still lags far behind.

*2007 is the latest data available for India
Data Source: Business Standard

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