Comments by "M Shastri" (@libshastra) on "US,Japan are considered highly innovative countries,India isn't -Why this is an incorrect assessment" video.

Actually, our R&D suffers from access to material and tech. Our labs have to wait years to months for approvals from Customs to import equipment, you can't write off R&D in your tax (most countries have a credit/rebate), up until recently we disallowed Corporates from co-operating with Universities etc. BTW Excellent new opinion column. Also we need more folks who write about specific reforms - for eg: I would love to see an article regarding how to reform and improve State Govt regulations.
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@rutvikrs 1. We will kill our industries without adequate reforms. 2. Not true. We have a huge training ecosystem - they can produce workforce in short order, just like China. China invested heavily in that building that ecosystem and making it easy for businesses to hire from that ecosystem. To elaborate a little, the lead time to get assembly workers in China & India is about 3-6 months, however unlike India, China make it ridiculously easy to hire from that ecosystem - it is as easy as talking to a Bureaucrat, signing a piece of paper and you have your workforce bused in at the date specified on that contract. You can't do that in India because regulations makes it impossible to hire more than 300 people. Forget taking advantage of that training ecosystem.
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@rutvikrs You are homogenizing issues where you need more focus and detail, not less. Take land reforms for eg: Land reforms requires State Govts' reforms - We still make companies renew stamp duty and industrial licenses annually rather than sign long term leases with them. No amount of land reforms at the CG level can fix that. Take labor laws as another example, despite all the investments in manufacturing, average job creation rates per unit is still around 300-500 because when you hire that 501st person, all the nasty regulations sets in. That's not great in a country that requires about 2-3 million jobs/month. Similarly, even if CG notifies it's laws today it's impact will be muted, why? Because there's still the tail end of State Govt's labor regulations that stymies job creation.
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@anujsethi7845 and that's not available for Corporates. That's important because Corporates creates products out of R&D
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@nomulahemanth3109 Yes, we've come a long way but more needs to be done.
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@anujsethi7845 CONgress stopped paying? I guess you got CONned by CONgress.
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It's a bad way to look at the problem. We need to make the business environment conducive for Corporates to spend money on R&D, forcing them to spend will be pretty unproductive.
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