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India Inc failed to ramp up R&D spends despite '90s economic reform push

2 weeks ago 6

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Home / Specials / News / India Inc failed to ramp up R&D spends despite '90s economic reform push

Cumulative spending on R&D was just $7.2 bn in FY26, against $61 bn spent by Alphabet alone in 2025

India Inc, Research and development, Economic reforms

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The total research and development spending by listed companies in the Business Standard sample has risen from ~957.8 cr in FY99 to ~63,529.2 cr in FY26 | Illustration: Ajaya Mohanty

Krishna Kant Mumbai

8 min read

Last Updated :

Sep 22 2026 | 11:59 PM

IST

The balance-of-payments (BoP) crisis that triggered the 1991 economic reforms resulted from India’s inability to bridge the growing gap between foreign exchange expenses and earnings.

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