Research comprises thinking, searching, understanding, and the use of methods with new streams that will eventually result in a new product or outcome. It can also improve the existing features of the product or bring a whole new outcome to adjust better. However, there's a development that refers to the application of outcomes of research or forwarding to better service/use of any product/outcome.
The Finance Minister of India on 2021 Budget declaration has budgeted INR 50,000 crores to [NRF] National Research Foundation to be expended over the term of upcoming five years. Generally, India’s (GERD) - Gross Expenditure on Research and Development needs a higher thrust from being 0.65% of Gross Domestic Product to at least 2% of Gross Domestic Product at an average. The top ten energetic economies of the globe i.e; the USA [3.1 of GDP], China [2.2 of GDP], Germany [3.2 of GDP], and Japan [3.2 of GDP] contribute effectively to Research and Development [especially in the business sector].
WHY INDIA NEEDS RESEARCH & DEVELOPMENT?
#RULE: RESEARCH BEFORE APPLY
1] (R&D) - Research and Development, is a crucial part of modern business, diplomacy, politics, environmental studies, and various other fields. In a co-operate platform R&D strives proficiency to develop, enhance its products, create/add, technify, design, or process services. R&D links various fractions of strategies and plans of any organization by highlighting the study/outcomes like marketing, adding and reducing cost, creating new plans, etc.
2] Research and Development possibly increase productivity or brings new lines of competition for products/investments/existing strata.
3] Research and Development are significant for understanding the market, surviving the local/global competition, it helps to decode the fluctuating preferences of the customers or subjects, It also helps to study and understand the new changes/new policies and speculate a way forward.
4] Since the current thrash by Covid - 19, the need for Research & Development for the invention of vaccinations triggered the Biotechnology and Pharmaceutical column as a hot spot - many nations have actively invested and worked in the R&D field since then.
5] Research and Development can easily lead India towards its target of Self-Reliant nation/Atma Nirbhar Bharat leading to the higher economic and global reputation of India.
WHERE AND HOW TO IMPROVE?
#RULE: DO WHAT IS E2[ EFFECTIVE AND EFFICIENT]
1] India is effectively growing in energy and resource use- cultivation but more active steps towards Research and Development in the field of energy conservation and use can lead India to conserve and sustainable use energy.
2] Pharmaceutical Research - According to (CAGR) Compounded Annual Growth Rate over the last five years more than 15% expenditure has been done on Pharmaceutical research whereas the United States is accounted for approx. 42% of prescription drugs. India can eventually increase tools and human capital here.
3] Agricultural Research - India is presently spending 0.30% of GDP on agricultural research whereas China spends 0.65% of its GDP on agricultural research. A way forward with drones lead to technical efficiency in agriculture as a new branch, yet to implement.
4] The trending issues like climate change needs proper research before applying. Demographic disturbances like the capture of Taliban in Afghanistan, the tension between Israel and Palestine, etc to be case-studied through research before any step-ahead that can cause a disturbance.
5] Further progress on Research and Development needs institutional support, standardized fieldwork, and focus on sustainability [SDGs].
6] The private sector and start-ups to include proper research arenas bringing more of the competitive environment for the development of workers and market in a competitive way.
7] The government's allocation to total researchers in India was around 34%. India stands the second-lowest in research personnel contribution among the top ten ruling economies. An efficient way to grow the contribution can start with calculating the human capacity index and strengthening education, skillful approach, providing researchers/observers with good social security, suffice incentives.
8] Media/infotainment channels can play a significant role in cultural research, international corporations, student fellowships, and participation in research activities/projects. Channels can research and bring out several aspects of demography to a wider screen of visual knowledge.
THE PITCHERS GAME - We can relate the field of Research & Development with Pitchers Game - Put an effective budget [like throw] shoot the right necessities for Research & Development and regulate the outcomes as per your profit.
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