discuss India development in the fields of science and technology
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Dr Harsh Vardhan , Union Minister of Department of Science and Technology , has reiterated that technology is a strong priority area for the Government and it aims to make people science - centric . Modern India has had a strong focus on science and technology , realising that it is a key element of economic growth .
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Answer:
India has immensely developed in the fields of science and technology due to the following reasons
India ranks third among the most attractive investment destinations for technology transactions in the world. Dr Harsh Vardhan, Union Minister of Department of Science & Technology, has reiterated that technology is a strong priority area for the government and it aims to make people science-centric. Modern India has had a strong focus on science and technology, realising that it is a key element of economic growth. India is among the topmost countries in the world in the field of scientific research, positioned as one of the top five nations in the field of space exploration. The country has regularly undertaken space missions, including missions to the moon and the famed Polar Satellite Launch Vehicle (PSLV).
India is likely to take a leading role in launching satellites for the SAARC nations, generating revenue by offering its space facilities for use to other countries.
Market size
India ranks 6th position for scientific publications and ranks at 10th for patents which included only resident applications. The total number of patent applications filed by scientists and inventors in India increased to 61,788 in FY19 (up to Dec 18) from 47,857 in FY18. India ranks 13th position at the Nature Index in 2017, based on counts of high-quality research outputs in natural sciences.
India improved its rank on the Global Innovation Index for the second year consecutively. From being ranked at the 81st position in 2015, India improved its ranking to 66th in 2016 and further to 60th in 2017.
The Government of India is extensively promoting research parks technology business incubators (TBIs) and (RPs) which would promote the innovative ideas till they become commercial ventures. India is world’s third largest technology startup hub with incorporation of 1,000 new companies in 2017.
The engineering R&D and product development market in India is forecasted to grow at a CAGR of 20.55 per cent to reach US$ 45 billion by 2020 from US$ 28 billion in FY18
Developments/Investments:
With support from the government, considerable investment and development has incurred in different sectors such as agriculture, healthcare, space research, and nuclear power through scientific research. For instance, India is gradually becoming self-reliant in nuclear technology.
Recent developments
Some of the recent developments in the field of science and technology in India are as follows:
As per the Government records, the number of Indian scientists coming back to India to pursue research opportunities has increased from 243 in 2007-2012 to 649 between 2012 and 2017 . In the span of 5 years 649 Indian scientists have returned to pursue research opportunities.
India's space business to witness tremendous growth in the next five years, on the back of technology advancement, global space business opportunity and a sharp rise in Indian Space Research Organisation’s (ISRO) satellite launch capability.
Investment Scenario
GridRaster Inc, working in the virtual and augmented reality space, has raised US$ 2 million as seed funding, which will be used for marketing and product development.
India’s R&D investments forecasted to increase to US$ 94.06 billion in 2019 from an estimated US$ 86.24 billion in 2018.
Government Initiatives
In February 2018, the Union Cabinet has approved implementation of 'Prime Minister Research Fellows (PMRF)' scheme, which will promote the mission of development through innovation, at a total cost of Rs 1,650 crore (US$ 245.94 million) for a period of seven years beginning 2018-19.
In February 2018, Union Government of India announced grant of Rs 1,000 crore (US$ 155.55 million) for the second phase of Impacting Research Innovation and Technology (IMPRINT), a fund created by Department of Science and Technology and Ministry of Human Resource and Development.
The Government of India granted Atal Innovation Mission with US$ 24.84 million will boost the academicians, entrepreneurs and researchers to work towards innovation.