"To do science, someone must pay for it.We must increase our annual expenditure on science and technology to at least 2 per cent of GDP. This has to come from both government and industry.
"In countries such as South Korea, where a high percentage of the GDP goes to science, the contribution of industry is significant," Singh noted.
In his inaugural address at the 101st Indian Science Congress here, the Prime Minister also said that India is joining the CERN, a premiere European Organisation for Nuclear Research, as an associate member.
Lauding Indian scientists working in the fields of atomic energy, space and earth science, the Prime Minister said India has occupied an "enviable position" in these fields.
"Indian nuclear scientists are attracting global interest in their efforts to develop a Fast Breeder reactor.I expect the prototype under construction in Kalpakkam to be completed this year.We will be one of the few countries with leadership in a completely new area of nuclear technology that can contribute to a non-polluting world.