University endowments and India’s research ambitions

This article argues that India’s research ambitions require stable, long-term funding beyond limited public budgets. Drawing on innovation theories by Joel Mokyr, Philippe Aghion, and Peter Howitt, it highlights universities as central to sustained innovation and economic growth. Global institutions such as Harvard University demonstrate how endowments provide financial flexibility for high-risk, long-term research. In India, low R&D spending and reliance on short-term funding constrain such ecosystems. However, rising philanthropy and emerging models in institutions like Ashoka University present an opportunity to build endowments, strengthen research capacity, and drive future innovation-led growth.