Indian industry is investing only 0.4-0.5% in R&D, says expert at CCI summit
The Hindu
Industry has to take a leap of faith to expand capacity, says Pawan Goenka
“Production-linked Incentive(PLI) scheme is not a solution to life. It is bridge given by government for 5 years. In these 5 years, industry has to make themselves globally competitive,” saidPawan Goenka, chairman, SCALE Committee and chairperson-designate for INSPACE - Department of Space, at asummit on Future of Manufacturing. The event wasorganised by the Confederation of Indian Industry, Southern Region.
He pointed out that Indian industry was investing only 0.4-0.5 % in R&D. It had to be improved for India to be a global manufacturing hub. He added, “Industry needs to take the leap of faith to expand capacity, the demand will follow.”
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