Private sector firms urged to invest more in R&D: Official

A very important government official in India, named Anuradha Thakur, gave a speech.

She told companies in India that they should spend more money on research and new ideas.

Research and development means trying to invent new things and make them better.

The government has already spent much more money on big projects over the last ten years, going from two lakh crore rupees to over ten lakh crore rupees.

But Indian companies only pay for 41 out of every 100 rupees of research.

In rich countries, companies pay for about 75 to 79 rupees out of every 100.

Thakur said companies need to invest more so India can grow and create good jobs.

She also said universities and businesses should work together more closely.

And small businesses should find it easier to get money from banks.

Because of these efforts, India's economy has been growing by about 7 percent each year.