India is one of the world's largest, fast-growing emerging economies, with a rapidly increasing population. Thanks to strong economic growth for nearly a decade, poverty has been cut in half. Growth faltered between 2012 and 2014 when it picked up again. Future growth prospects look good, although poverty continues to be a major challenge. Despite the abundant supply of a large, low-cost labour force, recent economic growth has relied mainly on capital investments and skilled labour. Innovation is seen as critical to India’s socioeconomic development. Through its national strategy, Decade of Innovations 2010‑20, the government aims to strengthen S&T capacities based on “a strong and visible Science, Research and Innovation System for High Technology-led path for India” (SRISHTI). The goal is to raise gross domestic expenditure on R&D to 2% of GDP with a doubling of the business contribution by 2020. The 12th Five‑Year Plan (2012‑17) emphasises reinforcing India’s education system, boosting investment in S&T and fostering translational research.