New Delhi, July 31 -- India's gross expenditure on research and development (GERD) rose to a record Rs 2.45 lakh crore in 2023-24, while R&D spending as a share of GDP increased marginally to 0.84 per cent, according to the latest government data tabled in the Rajya Sabha.

Replying to an unstarred question, Minister of State (Independent Charge) for Science and Technology Jitendra Singh shared the latest Research & Development Statistics.

The data showed that India's GERD increased to Rs 2.45 lakh crore in 2023-24 from Rs 2.13 lakh crore a year earlier. During the same period, R&D expenditure as a share of GDP rose to 0.84 per cent from 0.82 per cent.

Private sector investment in research continued to outpace government spending. Priva...