Advisory firm Zinnov said in its study titled ‘Global R&D Benchmarking Study: FY2011’ that, after witnessing a decline in the Global R&D spending in FY2010, FY2011 has seen an increase in spending.
In a release, the firm said that the potential for India to be among the top nations for R&D has become stronger.
Mr Sidhant Rastogi, Director - Globalisation Advisory, Zinnov, said: “Global R&D investments have grown by 8.2 per cent compared to the previous year FY2010. This growth has been primarily driven by organisations in the semiconductor, industrial and consumer hardware and electrical and electronic sectors.”
The report said that 30 per cent of the top 1,000 R&D spenders have a presence in India.