As India ramps up investments in its manufacturing sectors, a crucial next step is to increase funding for research and development (R&D). ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#SME#href” href=”https://economictimes.indiatimes.com/topic/praveer-sinha” target=”_blank”>Praveer Sinha, Managing Director of rel=”dofollow” href=”https://economictimes.indiatimes.com/tata-power-company-ltd/stocks/companyid-12918.cms” data-ga-onclick=”Inarticle articleshow link click#SME#href” target=”_blank”>Tata Power, emphasised the need for stronger R&D efforts, pointing out that most companies in the country currently spend only 3-5% of their budgets on R&D.
“We don’t do basic R&D because we do not have any type of labs. We do not have the required skill sets. The budgets that they have for R&D are about 3-5% in India. So, I think we need to create a better R&D ecosystem in…
