The public sector in countries like India should build more capacity in research and development as this would help to evolve effective public policies, Charles Edquist of Lund University, Sweden, said on Saturday.
Prof. Edquist was speaking on ‘Innovation systems for a knowledge economy in India’ on the final day of the 20th international conference of the Global Network of Economics of Learning, Innovation and Competence-building Systems (Globelics) at the Gulati Institute of Finance and Taxation (GIFT).
Developed countries like Sweden invests roughly 18% of its GDP for Science, Innovation and Technology (SIT). Even countries like Peru spends 8% on SIT. It is unfortunate to note that India earmarks an insignificant portion of its GDP in these areas, he said.
