Home » Uncategorized » :Indian firms have to be more innovative and need to invest heavily in Research & Development: M Hamid Ansari
The Vice President, Shri M. Hamid Ansari presenting the AIMA - JRD Tata Corporate Leadership Award to Shri N. Chandrasekaran, Chairman of Tata Sons Ltd., in New Delhi on July 18, 2017.

:Indian firms have to be more innovative and need to invest heavily in Research & Development: M Hamid Ansari

Newdelhi:19/7/17:Indian firms have to be more innovative and need to invest heavily in Research & Development (R&D) for boosting economic growth, the country’s Vice President M Hamid Ansari has said.

Speaking at the AIMA-JRD Tata Corporate Leadership Award event, Ansari highlighted that India was ranked 66th out of 128 countries in the Global Innovation Index and lagged countries such as China, Russia and South Africa.

“Our dismal show (in the index) is not surprising given our low level of R&D spend (0.63 percent of GDP)”, Ansari said in his address after presenting the AIMA-JRD Tata Corporate Leadership Award to Tata Sons Chairman N Chandrasekaran.

Ansari also said that the domestic investments (in R&D) by the private sector was still “minuscule”.

He cited the examples of Reliance Industries, the country’s largest enterprise by market capitalisation, and engineering behemoth Larsen & Toubro and pointed out that their R&D spend at 0.3 per cent of revenue and 0.36 per cent respectively was lower than companies like Petrobras and Petrochina.

Later, in his JRD Tata Corporate Leadership Lecture, Chandrasekaran said: “We need to believe in the power of aspiration if we want to do extraordinary things”.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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