Economic Survey 2015: India’s innovation capacity lags most BRICS nations

NEW DELHI: India ranks lower than most BRICS nations in terms of innovation despite logging a double digit growth in the Research and Development (R&D) sector in the past few years, says the Economic Survey 2014-15.

“According to the Global Competitiveness Report 2014-15, India’s capacity for innovation has been lower than that of many countries like the US, UK, South Korea, and even other BRICS countries (Brazil, Russia, India, China, and South Africa) except Russia,” the Survey said.

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