India’s research and development (R&D;) sector is still at a nascent stage and offers a lot of potential for future growth. Research and development activities in the country are mainly funded by the government, with the private sector accounting for a lower share. One area where R&D; plays a major role is patent research, which is undertaken with a commercial objective. At the same time, certain private sectors such as pharmaceuticals invest heavily in R&D; activities, in order to develop newer, more effective products. The relatively inexpensive labour costs in India make it a major global hub for R&D; activities. Technological innovation is a major step in ensuring the success of an economy and India is no exception to this rule. The government and the private sector need to play an important role in furthering R&D; activities within the country that will lead to better quality products for end users. A lot of foreign companies have already opened R&D; centres in India which bodes well for the future of this important industrial segment. Hide this