Indian firms spend only 3-5% of budgets on R&D; ecosystem needs strengthening: Praveer Sinha, MD, Tata Power

As India ramps up investments in its manufacturing sectors, a crucial next step is to increase funding for research and development (R&D). Praveer Sinha, Managing Director of 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…