Join Swati Joshi and Arindam Goswami in this episode of All Things Policy where we discuss some uncomfortable truths about India's innovation ecosystem.

Here's a number that should make every Indian policymaker lose sleep: In 1993, India and China spent the exact same amount on research and development as a share of their economies - 0.6% of GDP. Fast forward to today. China is at 2.6%. India? Still stuck at 0.6%.

Here's another one: Nvidia, a single company ranked 26th globally in R&D spending, invests nearly as much in research as ALL of the Indian industry combined. Today, we're asking the hard questions: Why has India's innovation system remained frozen for 80 years while our economy liberalised? What stops our profitable, world-class companies from investing in R&D? Are we measuring innovation completely wrong? And most importantly - what would bold reform actually look like?

And to help us in understanding all of this data, we have the "Handbook on Technology and Innovation in India" brought out by the Centre for Technology, Innovation and Economic Research - it is a treasure trove of data that reveals some uncomfortable truths about India's innovation ecosystem.

And to discuss all of this, we have today with us, Swati Joshi, who is a Senior Research Associate at CTIER. She has worked on this report, and has deep knowledge and insights about the innovation and R&D ecosystem in India.

The CTIER Handbook can be found here: CTIERHandbook-2025