Tata Motors among top 100 global R&D spenders

According to a media report, Tata Motors has entered the list of top 100 global companies that spent the most on research and development (R&D) in the last fiscal year. It is the only Indian company that made the list and is ranked 99th.

Taking into consideration the R&D spending of Jaguar Land Rover, Tata's rank rises to 13th in the list. Other notable Indian companies that just missed out include Mahindra & Mahindra which is ranked 114, Sun Pharma at 104, Lupin at 120 and Dr Reddy's ranked at 121. 

According to a report published in July 2018, Tata Motors invested Rs. 2,100.1 crore into R&D in 2016-17. It is said that the combined R&D spending of Tata and JLR is over Rs. 19,000 crore. Mahindra & Mahindra spent Rs. 2,075.8 crore, while Maruti Suzuki's R&D investment for the said fiscal topped at Rs. 640.4 crore. 

As per the Society of Indian Automobile Manufacturers (SIAM) and Centre for Monitoring Indian Economy (CMIE) data, the total R&D spending of the industry in 2016-17 was Rs. 7,909.6 crore.

Source: Economic Times