- The Research and Development (R&D) sector has been growing consistently in double digits in the last few years with growth at 20.8% in 2012-13 (old method).
- According to Global R&D Service Providers (GSPR) Rating 2014, a report by Zinnov Management Consulting, India’s R&D globalization and services market is set to double by 2020 to US$ 38 billio India’s share of the addressed market is 33% with in-house R&D centers contributing US$ 11.3 billion worth of services to their parent companies.
- According to the Global Competitiveness Report 2014-15, India’s capacity for innovation has been lower than that of many countries like the USA, UK, South Korea, and even other BRICS countries (Brazil, Russia, India, China, and South Africa) except Russia.
- In terms of patents granted per million population, India fares badly compared to other BRICS countries. In terms of company spending on R & D also India is far below China. Only in terms of availability of scientists and engineers, India scores better or is equal to other BRICS countries.
- India’s outsourcing and consulting industry is estimated at US$ 86.4 billion in 2014, accounting for almost 20% of global consulting industry revenue, and is projected to reach US$ 99.0 billion in 2015.
- Real estate and ownership of dwelling constitute 8% of India’s GDP in 2013-14.
- House prices have increased over the years in many cities and towns as per the National Housing Bank’s RESIDEX index of residential prices in India. In 2014, out of 26 cities, 17 witnessed increase in prices over 2013 with the maximum increase observed in Chennai (17%) followed by Ahmedabad (15% ), while 7 saw decline, with the maximum fall witnessed in Meerut (-16% ) followed by Chandigarh (-8%).
- At present urban housing shortage is 18.8 million units of which 95.6% is in economically weaker sections (EWS) / low income group (LIG) segments and requires huge financial investment to overcome.
- According to the World Bank’s ‘Doing Business 2015’, India ranked 184th (out of 189 economies) in terms of construction permits, requiring on an average 27 procedures to get permits as compared to an average of 14 in South Asia and 12 in OECD (Organization for Economic Cooperation and Development) countries.