Global research and development (R&D) expenditure rose to an estimated $2.87 trillion in 2024, marking nearly a 3 per cent increase from the previous year. The figure reflects a near threefold rise since 2000 and marks the continued expansion of innovation-led investment across major economies. Asia accounted for about 45 per cent of total global R&D spending, underlining its growing role in the world innovation landscape.
Global R&D Trends
- Worldwide R&D spending has expanded steadily over the past two decades.
- The 2024 estimate is based on the Global Innovation Index Database and related international data sources.
- The rise shows that governments and firms continue to prioritise technology, productivity, and strategic innovation.
China and the United States Lead
- China became the world’s largest R&D spender in 2024 with $785.9 billion.
- The United States ranked second with $781.8 billion.
- China’s spending has increased almost 20-fold since 2000.
- The United States also doubled its R&D spending over the same period, but its global share declined.
India’s Position and Emerging Economies
- India ranked seventh globally with R&D spending of $75.73 billion in 2024.
- This is more than three times its level of $20.8 billion two decades ago.
- Other emerging economies such as Turkey, Egypt, Thailand, Poland, and Saudi Arabia also increased their R&D presence.
- Several advanced economies, including Germany, France, Italy, Canada, Russia, Brazil, and the United Kingdom, saw declines in their global shares.
Exam Relevance
- R&D spending is a key indicator of innovation capacity and economic competitiveness.
- It is closely linked to industrial policy, technological self-reliance, and long-term growth.
- Shifts in global R&D shares reflect changing economic power and innovation geography.