Industries in Coimbatore urged to invest in R&D

The industry in Coimbatore should invest in research and development (R and D) to make a giant leap, said Sridhar Vembu, Chief Executive Officer of Zoho Corporation here on Saturday.

The industry in Coimbatore should invest in research and development (R and D) to make a giant leap, said Sridhar Vembu, Chief Executive Officer of Zoho Corporation here on Saturday.

Receiving the “CRS Institution Builder Award” presented by Residents Awareness Association of Coimbatore (RAAC), CRS Memorial Endowment Committee, and the trade and industry associations of Coimbatore, he said this region should look at countries such as Switzerland as its role model.

Manufacturing was vital for the prosperity of a nation and industries should invest at least 10 % of their value addition in R and D. This was not just for growth in prosperity of the region, but of the entire country. For this, the industry should build the culture of R and D. The region had ample talent and institutions and the industries should leverage on this, he said.

He also urged the industries to adopt a village each in the State and generate employment in these places.

Vijay Mohan, founder of Pricol, who was the chief guest for the event, said C.R. Swaminathan was committed to social well-being and had built several institutions not only in Coimbatore, but across the southern States.

The RAAC, trade and industry associations, and CRS Memorial Endowment Committee also launched “Long term scholarship with mentorship programme” in memory of C.R. Swaminathan and gave away scholarships to five underprivileged students. These students, who are in Class VIII, will be supported with mentoring and scholarship till they complete their post graduation.