The Gross Domestic Expenditure on R&D in India shows a consistent upward trend from 2024 to 2028, with forecasted values increasing from $68.19 billion in 2024 to $74.52 billion in 2028. Compared to 2023, when the expenditure was lower, this represents a positive growth trajectory. Year-on-year growth rates are projected at 2.39% from 2024 to 2025, 2.28% from 2025 to 2026, 2.19% from 2026 to 2027, and 2.11% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is estimated at approximately 2.24%.
Future trends to watch for include:
- Increased public and private sector investment in R&D to drive innovation.
- Government policies aimed at fostering technological advancements.
- Potential impacts of global economic conditions on funding levels.
- The influence of emerging technologies and digital transformation.
