A lot of debate over Indian science & technology (s&t) is focused around funding. Currently, India spends about 0.8 per cent of its gross national product on s&t, down from almost one per cent spent in 1992-93. This includes investments made by central and state governments as well as the private sector. Notwithstanding policy pronouncements, the prospects of government s&t establishments self-financing their research and development (r&d) activities does not seem good, considering the poor participation and investments of the private sector in r&d. However, the amount of investments needed in the future are so huge, that private funding cannot be seen as a substitute for government funding, but rather as complementary.