View: Why India should focus on tech and innovation India has a solid base of qualified researchers. India produced 26,566 science and engineering PhDs in 2018. That is more than most other industrialised and emerging economies except the US (41,071) and China (34,440). Synopsis Technology and innovation are the biggest drivers of change in the global economy. Now, at the cusp of the Fourth Industrial Revolution, they will determine the economic trajectory of nations more than ever before. By no means is India a leader in the global tech and innovation sweepstakes. Technology and innovation are the biggest drivers of change in the global economy. Now, at the cusp of the Fourth Industrial Revolution, they will determine the economic trajectory of nations more than ever before. By no means is India a leader in the global tech and innovation sweepstakes. Its total research and development (R&D) spending is very low by global standards. Yet, it does possess some of the fundamentals to change that — a large