Investing more on Research and Development

Former President and Bharat Ratna awardee Pranab Mukherjee has underlined the need and importance of research and innovation and opined that more investments must be made to get overall better results. It is without any doubt that the country had a lot of production potential which could ably be tapped once this country laid more stress on research and innovative pursuits. Times are changing and yester year’s technology is today’s obsolete junk and unless we kept pace with the new technological development taking place around the world, perhaps we could not make the desired impact.
Universities, multinational companies, Govern-ment organisations and the like needed to take the challenge in a missionary spirit to come forward to invest in research related projects and works which was bound to result in the overall development of the country. Advanced technology was what was required for each and every vital sector of the economy and the former President pointed towards this important aspect while lamenting that mere 0.8 percent of our GDP was being spent on investment in research activities. Japan, the US and China were spending, on the contrary, 3.6 , 2.7 and 2 percent respectively of their countries’ GDP. Pranab Mukherjee was recently speaking at an award receiving ceremony in Visakhapatnam.