Underlining low investments in research and innovation as compared to other countries, President Ram Nath Kovind on Monday said both Centre and states will have to increase funding in research and innovation to give impetus to a large economy like India.

In his inaugural address at Governors' virtual conference on New Education Policy (NEP) 2020, Kovind said the level of investment in research and innovation is 2.8 per cent of GDP in the US, 4.2 per cent in South Korea and 4.3 per cent in Israel as compared to only 0.7 per cent in India.

"To give impetus to a large and vibrant economy like India, it is necessary to encourage knowledge-creation and research. The central and state governments will have to increase the percentage of investment in research and innovation," he said.

The president said the National Education Policy-2020 aims to achieve at the earliest joint investment of Centre and states to 6 per cent of GDP in the field of public education as has been consistently clarified from the 1968 Education Policy to the current one.

"In line with this approach, the education policy adopts the spirit of the three-language formula. The policy puts emphasis on Indian languages, arts and culture. This will develop creative potential in students and further strengthen the Indian languages. It will be helpful in preserving the unity and integrity of our country characterised by great linguistic diversity," he said.

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