India’s Innovation Growth Rate Could Surpass China: BRICS Report
India's innovation growth rate is poised to see a significant rise and could surpass that of China in the next decade, said a BRICS report released on Tuesday.
It is predicted that "the innovation competitiveness of India would see a significant rise with its growth rate probably surpassing China between 2025-2030," according to the BRICS Innovative Competitiveness Report 2017.
The report comes ahead of the upcoming BRICS Summit to be held from September 3 to 5, in Xiamen, East China's Fujian Province. Prime Minister Narendra Modi will travel to Xiamen to attend the summit.
"The growth rate of Russia would fall and India would take over Russia in terms of its comprehensive Science, Technology, and Innovation competitiveness by 2030," it said.
China ranked first on national comprehensive innovation competitiveness in 2016, followed by Russia, South Africa, Brazil and India,
The report also said BRICS countries have become a "bellwether" in their respective regions, leading the neighboring countries in many aspects. The five BRICS countries are leading the development of science, technology, economy and society, it added.
The report said BRICS countries are major representatives of emerging economies, which contribute 18 percent of global gross domestic product, 17 percent of global research and development investment and 27 percent of science papers published in international journals.
However, in terms of research, quality of education, modern infrastructure and eco-protection, BRICS still lag behind, the report said.
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