In 2023, India's government expenditure on R&D stood at 186.39 Million US Dollars PPP, Constant. Forecasts suggest moderate growth, with expenditures reaching 206.14 Million by 2028. The projected annual growth rate between 2024 and 2028 is around 2.54%. Year-on-year growth remains steady: 2.14% in 2025, 2.06% in 2026, 1.97% in 2027, and 1.89% in 2028.
Future trends to watch:
- Focus on emerging technologies, enhancing innovation ecosystem.
- Increased collaboration with private sector for tech advancements.
- Government policy shifts impacting R&D funding strategies.
- Impact of global economic conditions on funding priorities.
