Union Minister Jitendra Singh, addressing a gathering at the Indian National Science Academy (INSA) in Delhi, stressed the need for private sector involvement in funding research and development (R&D) in India. He acknowledged that while the government has significantly increased its investment in scientific innovation, there are inherent limitations.

Singh highlighted the gap between India's R&D expenditure (around 0.65% of GDP) and the global average, particularly when compared to countries like the US (2.8%) and China (over 2%). He urged corporates to take proactive steps to bridge this gap, especially in sectors like space technology, biotechnology, and artificial intelligence.

He also reiterated the government's commitment to promoting innovation through programs like Start-Up India and National Research Foundation (NRF), but emphasized that sustainable progress requires collaborative efforts with industries.

The minister concluded by stating that national growth and global competitiveness are achievable only when the private sector becomes an equal stakeholder in India’s research ecosystem.