In FY21, the science and technology sector added 1,497,501 employees, becoming India’s top employment generator.

Under the Interim Budget 2024-25, the government announced an allocation of Rs. 8,029 crore (US$ 966 million) to the Department of Science and Technology and Rs. 16,604 crore (US$ 2 billion) to the Ministry of Science and Technology.

In the Interim Budget 2024-25, the government announced corpus of Rs. 1 lakh crore (US$ 12 billion) to promote Innovation and StartUps coupled with a new scheme for Deep Tech StartUps in Defence.

According to Commerce and Industry Minister, Mr. Piyush Goyal, the Indian patent office has granted the "highest" number of 41,010 patents till November 15th, 2023.

In the year 2023, an all-time high of 90,300 patent applications were received. The Indian patent office granted more than 1 lakh patents during March 15, 2023, to March 14, 2024, reflecting the government efforts to enhance the intellectual property rights framework.

In India, there are more than 1,580 Global Capability Centres (GCCs), where companies can outsource their product development and receive product engineering services, with the GCC market size crossing US$ 46 billion (as of FY23). These GCCs are home to some of the largest companies, many of which have their largest or second-largest R&D centres located in the country.

Accenture offers a framework for assessing the economic effect of AI for selected G20 countries in its latest AI research studies and forecasts that AI will raise India's annual growth rate by 1.3% by 2035. India's National Artificial Intelligence Strategy prepared by NITI Aayog outlined a way forward to harness the potential of Artificial Intelligence (AI) in different fields. State University Research Excellence (SERB-SURE) to create a robust R&D ecosystem in state universities and colleges; Fund for Industrial Research Engagement (SERB-FIRE) to support research and development to solve critical problems that are relevant to industries in a public-private partnership mode.