logo
To lead globally, India must not just invite R&D global excellence — it must be ready to host it

To lead globally, India must not just invite R&D global excellence — it must be ready to host it

Economic Times5 hours ago

For starters, you'll have to make better offers than that In 1950, the US made a radical wager: that funding curiosity - unapologetic curiosity - through the installation of the National Science Foundation (NSF) could change the world. The payoff was immense. For every $1 of public research funding, the US economy gained between $1.50 and $3. Over 260 NSF grant recipients went on to become Nobel laureates.Cut to 2025. The US has proposed a 56.9% cut to NSF's 2026 budget - even as last Friday, a federal judge blocked the move - eliminated over 1,400 grants worth more than $1 bn, and slashed graduate science fellowships by half. In real terms, this means 46,000 jobs lost, and a $6.1 bn hit to GDP through supply chain effects and declining R&D demand.
Efficiency concerns are prompting the US to cut back on scientific research. A March 2025 Nature survey shows 75% of US-based scientists, and 79% of postgraduate and PhD students are considering leaving the country. This moment is India's opportunity. With less than 0.7% of GDP spent on R&D and 15 researchers per 1 lakh people (compared to 423 in the US and 1,307 in South Korea), India is underbuilt, but not incapable. If India reforms its institutions, funds bold research and builds real pathways for global talent, it can become not just the world's back office but also its brain. The question isn't whether top minds will leave the US, but where they'll land.
China has been years ahead in recognising that talent is the new oil. Through flagship programmes like Thousand Talents Plan (TTP) and Young Thousand Talents (YTT), China has systematically built a global pipeline for high-end scientific talent. TTP offers extraordinary incentives: A one-time bonus of 1 mn renminbi ($140,000), 3-5 mn renminbi in research grants, housing subsidies, relocation allowances and access to senior roles in academia and industry. By 2017, TTP had recruited over 7,000 high-calibre professionals, including Nobel laureates and faculty from MIT, Stanford and Oxford. Sent out 3,500 offers between 2011 and 2017, targeting PhDs from the top 100 STEM universities. A January 2023 study in Science, 'Has China's Young Thousand Talents program been successful in recruiting and nurturing top-caliber scientists?', found YTT awardees averaged 2.39 publications a year and ranked in the top 15% of Chinese-origin US researchers by productivity.In May, the EU launched a ₹500 mn ($576 mn) 'Choose Europe for Science' campaign aimed at attracting global scientific talent between 2025 and 2027. The initiative offers super grants with relocation bonuses and longer contracts. France has pledged ₹100 mn ($115 mn) under this framework, alongside a separate 'Choose France for Science' co-funding platform. This investment comes as the EU seeks to reverse its declining share in global research output, calling on member states to commit 3% of GDP to R&D by 2030.India has instituted a range of talent- return and international collaboration programmes, including the Ramanujan Fellowship, VAJRA (Visiting Advanced Joint Research), VAIBHAV (Vaishwik Bharatiya Vaigyanik), SIRE (Science and Engineering Research Board International Research Experience) and GETin (Genome Engineering/Editing Technologies Initiative), to integrate diaspora scientists and enhance domestic R&D capabilities.
However, these schemes have challenges:
They are fragmented across ministries.
Structurally, most programmes are fellowship-based with finite tenures, lack tenure-track conversion mechanisms and fail to offer institutional integration or strategic roles within national labs.
Funding levels - typically ranging between ₹85,000 and ₹1.35 lakh a month - with modest research grants, are insufficient to attract global talent or bring Indian researchers back.
Lack of state-of-the-art lab infra, especially outside IISc and IITs, undermines India's competitiveness as a research destination. Returnee scientists often face asymmetric institutional conditions, like outdated equipment, poor administrative support and rigid procurement protocols.
Administrative inefficiencies are common deterrents, such as delays in grant disbursal, compliance burdens and lack of autonomy in fund utilisation.
Cultural resistance within host institutions, coupled with absence of structured onboarding, inter-institutional mobility or peer networks, has often isolated returnees.
Absence of a mission-oriented innovation agenda means returnees are not embedded in coherent national-level grand challenges.
But India's scientific ecosystem has begun to witness a quiet revolution, with momentum accelerating. There is a concerted effort by several ministries towards bringing in reforms for the ease of doing research. Anusandhan National Research Foundation (ANRF) marks a foundational shift in how the country approaches research funding and governance. It's centralising fragmented efforts and introducing coherence across disciplines.ANRF aims to become the backbone of India's R&D architecture. New funding mechanisms, like the Advanced Research Grant (ARG), are being introduced. It's designed to serve as a stable, long-term 'bread-and-butter' grant for Indian scientists. Simultaneously, critical financial reforms are underway to make research more frictionless. These include streamlining fund disbursal, easing utilisation norms and granting greater autonomy to institutions.But India must seize this rare moment to launch a unified, mission-driven, talent-attraction programme targeting researchers from the world's top 100 STEM institutions. The lure of being back home must be supplemented with state-orchestrated efforts.Fragmented, short-term schemes are no longer sufficient. What's needed is a cross-ministerial effort aligned with national innovation priorities and backed by investment in cutting-edge lab infra. To lead globally, India must not just invite excellence - it must be ready to host it. (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Second only to L&T, but controversies may weaken this infra powerhouse's growth story
Looking for quick buck in unlisted shares? Better think twice!
How Vedanta's Anil Agarwal bettered Warren Buffett in returns
Rivers are moving more goods than before. But why aren't they making a splash yet?
Stock Radar: Supreme Industries stock down by about 30%! Breakout from rounding bottom formation suggests bulls are catching up
Two Trades for Today: A large-cap auto major for 6.7% gain, a mid-cap auto stock for almost 7% rise
After a gap of 4 years, are HDFC, Axis, Kotak banks ready for re-rating? 5 bank stocks with upside potential of up to 35%
For medium- to long-term investors with moderate risk appetite: 6 large-cap stocks with an upside potential of up to 40%

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Composite manufacturing tech startup Fabheads raises $10 million in round led by Accel
Composite manufacturing tech startup Fabheads raises $10 million in round led by Accel

Time of India

time27 minutes ago

  • Time of India

Composite manufacturing tech startup Fabheads raises $10 million in round led by Accel

Composite manufacturing technology startup Fabheads has raised $10 million in a mix of debt and equity, led by Accel . Of this, $2.3 million (Rs 20 crore) was raised from venture debt firm Trifecta Capital. The latest funding round brings the total funding raised by the Chennai-based startup to $13 million. In an interaction with ET, Fabheads cofounder Dhinesh Kanagaraj said that the funds will be used to scale the firm's manufacturing capacity, expand the leadership team, and strengthen its client-facing engineering as well as R&D divisions. 'The majority of the funds will be used for setting up a bigger manufacturing factory in Karnataka,' Kanagaraj said. 'It is between 80,000 to 100,000 square feet in size and is already in the process of being made. We are looking at having over 70 big machines here.' The facility is located at Bengaluru's Aerospace Park at the KIADB area and is set to be completed in the next six months. Currently, the startup has its office and factory only in Chennai with 13 machines. 'Fabrication of composite materials into finished goods takes long hours of manual labour. To make the process efficient, we have developed an automated manufacturing process that makes it a lot more reliable,' said Kanagaraj. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'Even though the composite material is strong, it is brittle, so it can break easily, which makes it difficult to automate this process. We have developed a technology called Adaptive Toe Placement (ATP), which allows handling these materials in a more precise manner and makes extremely complex parts,' he added. Fabheads was founded in 2015 by former ISRO engineers Kanagaraj and Abhijeet Rathore. The firm offers design and manufacturing services to drone, robotics, and shipping companies across India and plans to expand internationally. Some of its current clients include Tata, ISRO, and Motherson Group, among others.

Startups cash in on exclusivity to build members-only, private clubs
Startups cash in on exclusivity to build members-only, private clubs

Mint

time33 minutes ago

  • Mint

Startups cash in on exclusivity to build members-only, private clubs

Bengaluru: As India's professionals seek more curated spaces to build valuable networks, exclusive private clubs are emerging as coveted hubs of connection and influence—and startups are taking notice. From curated member lists to secret addresses and by-invitation-only access, a new generation of private social clubs is redefining what exclusivity means, opening up a lucrative opportunity for entrepreneurs eager to build the country's startup-focused Soho Houses and Core Clubs. Offline, a Delhi-based venture that calls itself a private community for the top 10% of tech founders and C-suite executives, has 100 paying members as of June in less than two years of inception, its founder and chief executive officer, Utsav Somani, told Mint. A membership in Offline costs nearly ₹6 lakh a year. 'Offline's got a powerful address book ofa founders in the country who are ready to help each other. Every community needs something to bond the members. We have a three-house professional group therapy format where 7-8 founders come together and unpack what's working or not working in their personal and professional lives," Somani said. Also read | Startups take a shine to lab-grown diamonds. Now they need to win over sceptics Offline secured $2 million from a host of angel investors, including Groww's Lalit Keshre, Razorpay's Harshil Mathur and micro-funds like DeVC, Better Capital, and Riverwalk Holdings. Meet5 Club, a four-month-old Bengaluru-based exclusive club for ambitious professionals, has grown to nearly 500 members, including founders, investors and CXOs, to date and has another 2,000 on the waitlist, its founder Rakesh Andey said. 'Every Wednesday, we host private, AI [artificial intelligence]-curated dinners that pair members with five highly relevant peers—aligned to their goals, stage, and personality—to spark deep conversations, real momentum and a sense of belonging," Andey added. Meet5 Club has, so far, raised undisclosed funding from angel investors. Drawing inspiration from global counterparts like Hampton—a private network for high-growth founders based in New York—and Startup Grind New York City in the virtual space and SoHo House and Core Club in the physical world, these young companies want to offer deeper professional connections while retaining the invite-only format. The market for private clubs is significant. Physical private members-only clubs were estimated at ₹576 crore in FY24 and expected to touch ₹941 crore by 2027, per research by Axon Developers. While no equivalent estimates for virtual clubs are available, the growth of wealthy individuals is a key indicator of potential. India is expected to have 16 lakh high net-worth individuals (those possessing investable assets of at least $1 million) by 2027, as per a 2023 report by Knight Frank. The country holds the third position in Asia and sixth globally in terms of the number of ultra high-net-worth individuals (those having investable assets exceeding $30 million), with technology and startup industries serving as top contributors to the fortune, according to Anarock. Focus on trust Private clubs for the wealthy have existed in India, including Gymkhanas, Rotary Clubs, and new-age ones like BLVD, SoHo House, and The Quorum, among others. However, the purpose has always been to connect like-minded individuals over creating networks. 'For us, networking is the outcome, not the purpose. The idea is to create a place of belonging for individuals of similar interests and aspirations through a high-quality hospitality environment," said Vivek Narain, founder and CEO of The Quorum, a contemporary private club with physical presence in Delhi, Mumbai and Hyderabad. Professionals tend to seek exclusivity to develop trust and a sense of belonging with others in the community. 'Trust underpins everything. Founders want to be part of a community they can relate to because every founder will undergo different challenges in different stages of the journey. The intent is to provide a solution for a niche and win that over," said Jai Sumer Singh, co-founder and partner at early-stage venture fund Riverwalk Holdings. Riverwalk is among the early investors of Offline. While mixers and other social events continue to take shape in different parts of the country, many are simply transactional. Firms like Offline and Meet5 intend to fix it. Also read | For online brands, opportunities in offline, quick commerce, and Thrasio models 'In today's hyper-connected world, ambitious professionals still struggle to find the right conversations, collaborators, and clarity. Most networks, whether coworkers, alumni, or friends, rarely evolve alongside a professional's changing goals or stage of growth," said Meet5 Club's Andey. Edge Community, a closed-door network for professionals in countries including India, Dubai, London and New York, will cap its members list to 10,000, according to its founder Yashraj Akashi. 'Think of a closed-door and invite-only LinkedIn. A handful of them are donor members who host specially curated meet-ups and sessions, while others will be members onboarded on an invite-only basis." Edge is very selective about expanding its membership, allowing only 4-5 to join the community every month. Edge's network includes several veteran executives of large listed companies as well as IPO-bound and venture capital-funded startup founders. Moreover, not having a physical space to gather helps Edge save up on crucial capex spends, which are used to build other critical infrastructure, like bringing on board highly influential experts, according to Akashi. Offline's Somani—who was previously the India head of AngelList—saw the need to create a safe space for startup founders that typically face very different challenges compared to larger companies. 'Our members include 11 unicorn founders, 6 people running IPO companies, and the average valuation within the community is nearly $1.9 billion. Their worry isn't the membership cost, but their time." Meet5 Club enables members to share their goals privately. 'These are never visible or broadcast, which allows deeper intent without exposure," according to Andey. Building scale Unlike many startups that aspire for scale, startups in this space are focused on building niche experiences with restricted audiences to maintain exclusivity. 'The mission is not to drive volume, but create value," said Riverwalk's Singh, adding that when a business solves for trust in a niche like this, many adjectives open up. 'A thriving business is one that serves a need and does it repeatedly." Offline's Somani does not want to expand the members list beyond 350. 'Our aim is never to be a community with thousands of members. Beyond 350, the network effect just breaks and then just becomes a membership-gathering experiment." The firm will also eventually offer additional services like a concierge, as well as a legal and financial desk. Meet5 Club is not actively raising institutional capital yet, but it is open to conversations. 'We are open to conversations with long-term partners who believe in building the next-generation social infrastructure for professionals," said Andey. Also read | Travel startups and indulgent Indians: A match made over luxury escapades However, building private communities doesn't come without its troubles. Most recently, private club focused on connecting ambitious women—shut down, citing unsustainable unit economics. 'Trust us when we say that we explored every path to keep this dream going, including fundraising/potential expansion to other cities, but the current unit economics and usage just didn't justify scaling," the firm said in a LinkedIn post in May. However, deepening talent density and the growing need for connections among professionals will always result in ever-expanding potential of such ventures, according to Riverwalk's Singh.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store