- India was successful in the agrarian era but struggled to keep up with the industrial era. The document discusses whether India can catch up in the knowledge era.
- India's spending on research and development is larger than several other countries but spending per researcher is comparable to global leaders. Industry investment in R&D is still very low.
- There is an urgent need for India to evolve innovation ecosystems and respond to technology demands through changes in mindsets across society, academia, research, industry, bureaucracy and policies. This includes promoting user-inspired basic research, competitive research, and translating more research into development.