In the race to global supremacy, countries like the US and China have made strategic investments in research and development (R&D), propelling their technological and economic growth. The US emerged as the world’s economic leader following significant investments in space technology, while China has leapfrogged to become a global R&D powerhouse, spending over 2.2 percent of its GDP on research annually.
India, aspiring to be a $10 trillion economy by 2047, stands at a crossroads. The One Nation, One Subscription (ONOS) initiative could be a game-changer, unlocking vast untapped potential in India's research landscape.
R&D Investment and Economic Growth
Research spending has long been linked to a nation’s economic growth and global competitiveness. In the Space Race between the U.S. and the Soviet Union, massive investments in space technology reshaped both superpowers. Today, private-sector companies like SpaceX—founded on the back of government and private R&D investments—are revolutionizing space travel and contributing to the U.S.'s ongoing leadership in this domain.
India’s own Indian Space Research Organisation (ISRO) is a prime example of how targeted investment in R&D can achieve global prominence. ISRO’s cost-effective satellite launches and space exploration projects have put India at the forefront of global space innovation, while simultaneously fostering economic self-reliance.
For India, ONOS is an opportunity to harness this power in research. By facilitating equal access to global journals, research tools, and data, ONOS could ignite the nation’s potential for breakthroughs in high-tech industries such as artificial intelligence, electronics, and pharmaceuticals—sectors poised for export-driven growth.
The Strain of Open Access and Subscription Costs
Indian universities currently spend an estimated Rs1,500 crore annually on journal subscriptions and open-access publication fees. This figure represents a significant chunk of their research budgets, which could be better utilized to fund actual research rather than administrative costs to access global knowledge. To put this in perspective, U.S. universities spend billions on similar subscriptions, with Harvard alone paying around $3 million annually.
These costs are exacerbated by the monopoly of large research publishers who control the dissemination of academic knowledge. Publishers charge exorbitant fees for access to articles, often resulting in limited access for scholars in developing nations. A 2021 Nature study found that Indian universities spend up to 40 percent of their research budgets on access fees, diverting funds away from R&D itself. ONOS can reduce this burden significantly by pooling subscription resources, providing free or low-cost access to the global body of research, and redirecting funds to support domestic research initiatives.
By alleviating the financial strain of subscriptions, ONOS can enable Indian researchers to focus on generating new knowledge, thereby spurring innovation across critical sectors.
Bridging Industry-Academia Gaps: Unlocking Collaboration Potential
India’s research ecosystem is currently hindered by a lack of collaboration between academia and industry. This gap results in underutilized research and limited commercial applications for academic breakthroughs.
India’s own experience in pharmaceuticals and information technology (IT) shows that stronger industry partnerships can lead to global breakthroughs. For instance, India is the world’s largest supplier of generic drugs, but much of this success can be attributed to the strong industry-academia ties fostered over decades. Similarly, the IT revolution was driven by collaborations between universities like IITs and companies such as Infosys and Tata Consultancy Services (TCS).
ONOS can build on this legacy by creating an integrated platform where universities, industries, and government can work together.
The Talent Drain: Why ONOS Could Retain India’s Brightest Minds
India has one of the largest talent pools in the world, but it is also facing a significant brain drain. According to a 2020 McKinsey report, over 50,000 Indian students leave the country each year to pursue higher education, often never returning. The main reasons for this migration are access to better research infrastructure, collaborative ecosystems, and global academic exposure.
ONOS can change this by offering Indian scholars access to world-class research tools and platforms within the country, significantly reducing the need for migration. With better access to research materials, data, and funding, India can create an environment where talent can flourish without needing to go abroad.
Global Comparisons: The Role of R&D in Economic Growth
Countries that prioritize R&D see direct correlations between research spending and economic performance. The US, for instance, invests around 2.8 percent of its GDP in R&D, with a direct impact on the $20 trillion economy. Similarly, China’s focus on technological innovation has fuelled its rise as the world’s second-largest economy, with an investment of 2.2 percent of GDP in R&D.
In comparison, India currently invests only 0.7 percent of GDP in R&D. However, with ONOS, the potential for India to scale this investment is immense. Increasing R&D funding to 1.5 percent of GDP by 2030 could generate billions in additional economic output, creating high-tech jobs, boosting exports, and reducing dependence on foreign technology.
To maximize the potential of ONOS and ensure its alignment with India’s broader economic goals, policymakers, universities, and industries must act strategically:
# Policymakers should set clear, ambitious goals for increasing India’s R&D investment to 1.5 percent of GDP by 2030, while incentivizing private sector involvement in research through tax breaks and public-private partnerships.
# Universities should focus on developing stronger industry linkages, creating collaborative research ecosystems, and ensuring that the fruits of research are translated into commercial innovations.
# Industry leaders must invest in R&D partnerships with academic institutions, fostering an environment of joint innovation that aligns with global demand for technologies like AI, biotechnology, and renewable energy.
(The author is Assistant Vice President at Primus Partners.)
Views are personal and do not represent the stand of this publication.
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