In 2023, business enterprise expenditure on R&D in India represented X% of Total GERD. From 2024 to 2028, a steady increase is forecasted, rising from 37.52% to 38.65%. The year-on-year growth displays marginal increases, with a consistent upward trend indicating a stable increase in R&D spending.
Future trends to watch for:
- Potential impact of governmental policies encouraging innovation and research.
- Increased participation of private international firms in India's R&D sector.
- Emerging sectors like AI, biotechnology, and renewables driving R&D growth.
