Raipur- India is experiencing a new revolution in research and innovation and is emerging as a nation that will power the next waves of innovation in the world, said Lieutenant Governor of Jammu and Kashmir Manoj Sinha on Sunday.

Despite tariff trade and global challenges and conflicts, India continues to be the brightest spot in the world economy, he said.

Speaking at the 16th convocation of National Institute of Technology (NIT) Raipur here at Pt Deendayal Upadhyay Auditorium as the chief guest, he said India's research and development spending has jumped from Rs 60,000 crore in 2010-11 to nearly Rs 1.3 lakh crore annually now.

He also called upon the private sector to significantly increase its investment in R&D.

India is experiencing a new revolution in the field of research today, he said. Under the leadership of Prime Minister Narendra Modi, schemes related to research, development, and innovation worth Rs 1 lakh crore have been rolled out, he said.

“You will be surprised to know that in 2010-11, we were only able to spend Rs 60,000 crore on research and development. Today, we are spending approximately Rs 1.30 lakh crore annually on R&D.

“This is more than double the growth. I would request that the private sector also invest more and more in research and development,” he added.

Sinha said the number of patents filed in the country has increased from 24,326 in 2020-21 to 68,176 at present.

India is becoming the country that will power the next waves of innovation in the world, he said.

Artificial Intelligence is reshaping every sector, and AI professionals, innovators and scientists will be the key drivers of the world economy, he said.

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