India's R&D Ecosystem: Private Sector Surpasses Government in GERD (R&D Statistics 2025-26) Why in News? The Department of Science and Technology (DST) released the Research & Development Statistics 2025-26, showing that India's Gross Expenditure on Research and Development (GERD) reached ₹2.45 lakh crore (0.84% of GDP) during 2023-24. For the first time, private secto...

Core argument: A large foreign-exchange reserve is a shield, not a scorecard. The right question is not merely “How much does India have?” but “Why has India accumulated it, what liabilities stand behind it, how liquid is it, and how much external stress can it absorb?” India’s foreign-exchange reserves crossed the $700-billion mark in August 2026, reaching a...