Pharma industry seek details on government funding for R&D: IPA1 min read . Updated: 06 Feb 2023, 12:39 PM IST
India’s expenditure on research & development and innovation is very less, the country spends about 0.7% of GDP on research while others spend 2.5-3%. Indian companies spend about 7% on R&D while global firms spend 15-20%
New Delhi: Pharmaceutical firms are looking forward to details for funding, particularly for research & development (R&D), following the announcements made by finance minister Nirmala Sitharaman in the Union Budget for 2023-24, said Sudarshan Jain, secretary general, Indian Pharmaceutical Alliance in an interview to Mint.
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