Why India lags behind most countries in terms of annual R&D spends and patent filings

In a competitive, globalised economy, companies need to innovate constantly to remain in the reckoning. Indian companies, however, have not yet woken up to the need to boost spending on research and development (R&D), through which alone product innovation is possible. India lags behind most countries, both developed and developing, in terms of annual R&D spends and patent filings

Graphic by Santosh Kushwaha
Research by Jyotindra Dubey