Asia Economics Blog

When:  28 January 2021, 6:30pm India time (GMT+5.5)

Speakers:  Olivier Blanchard & Aravind Subramanian

When:  19 Tuesday 2021, 9:30pm Hong Kong time (GMT+8)

Speaker:  Emily Breza, Harvard University

Co-Author: Madan Dhanora

“Need to focus on 5 things to bring India back on growth path – Intent, Inclusion, Investment, Infrastructure and Innovation,” Prime Minister Narendra Modi said while delivering the inaugural address at the Confederation of Indian Industry Annual Session 2020 – “Getting Growth Back”. Among the 5 I’s, we focus on innovation in the private sector which is stalling in India. As per the Department of Science and Technology, only 42% of total R&D spending was by the private sector during 2016-17, while in developed economies like the United States and another emerging economy, China, a larger share of R&D spending comes from business enterprises – upwards of 60-70% of total R&D expenditure in each. The contribution of 42% in India, though not on par with international magnitudes, has increased considerably from 19% in 2001-02. This increase may be attributable to liberalization and other policy initiatives to stimulate innovation including reforms in intellectual property rights.

When: 14 July 2020, 11:30am-12:30pm Hong Kong time (GMT+8)

Speaker: Yogita Shamdasani, National University of Singapore