India's innovation challenge lies in foreign ownership of research assets. Global Capability Centers generate significant revenue but do not accumulate Indian assets. Research performed in India is often sold as a service, with IP ownership residing abroad. This model generates export receipts but lacks compounding asset growth for the nation. Future growth depends on shifting from hosting research to owning intellectual property.
India's innovation problem does not end with how little its companies spend.
It ends with who owns what its researchers create.
Much of the current debate asks whether India spends enough on research.
An equally important question is whether research performed in India accumulates as an Indian asset.Research is an activity.
IP is an asset.
Shashi Tharoor considers how to overcome key risks and harness the country’s advantages in talent, stability, and scale.
This article is authored by Alkesh Kumar Sharma, member, PESB and former secretary, Meity.
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