Strategy for R&D in Indian Industry

India has the advantage of high quality researchers and growing markets at home and abroad. However, it is, at present, a very minor player in the global research and development arena. If the right steps are taken, such as enhanced R&D spending by industry with the government providing better incentives and a focus on fundamental research in the sciences and engineering, India can become an important R&D power. This article analyses the present scenario and suggests policy steps to achieve this goal.