India, March 7 -- India produces the highest number of science, technology, engineering, and mathematics (Stem) graduates in the world, after China. Indeed, it is bursting with tech talent, as is indicated by the fact that three-quarters of the top 500 multinational corporations in the world have established development centres in India.

All that talent means India can do a lot more to develop its own technological base, aiming to be among the top three science and technology (S&T) nations in the world. However, it comes in currently at 39th on the Global Innovation Index, while China is placed 11th. In 2022, India spent 0.65% of its GDP on research and development (R&D), much lower than that of other Brics (Brazil, Russia, India, China ...