According to the latest available statistics, the Indian investment in science and technology in terms of Gross expenditure on Research and Development (GERD) during 2011-12 has been 36.2 billion US$ Purchasing Power Parity (PPP) whereas China, the US and South Korea invested 205.4, 429.1 and 58.4 billion US$ PPP respectively. However, India's investment is higher than many countries such as Brazil 27.4, Canada 24.7 and Sweden 13.4, Mexico 8.1and Finland 7.9 billion US$ PPP during 2011-12. In absolute terms, India's national R&D expenditure during 2011-12 has been estimated to be of the order of Rs.72620.44 crore.
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