New Delhi, March 1 -- Technological innovation in all quarters is critical for accelerated economic growth. However, India's research and development (R&D) debate often focuses on public spending: how much the government allocates, which missions are launched and what headline targets are announced.

The data, however, suggests that India's innovation shortfall is fundamentally an industry story. What distinguishes India from global technology leaders is not an absence of policy intent, but the reluctance of corporates to invest meaningfully in research.

The recent CTIER Handbook on Technology and Innovation in India 2025 brings out a few critical aspects of India's innovation landscape.

First, India's R&D expenditure remains structural...