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R&D & Innovation

India’s First Engineering R&D Policy Announced in Karnataka

The engineering R&D (ER&D) sector is one of the fastest growing industries in India. This E R&D policy has become first of a kind in the country. The aim of the policy is to contribute approximately 45% to India’s engineering R&D needs during the policy tenure. “Karnataka is currently the leading contributor to the Indian Engineering R&D industry revenue. The State is home to over 400 leading R&D Centers/ GCCs. This policy aims to retain this position, generation of intellectual properties (IPs), and to make this as skilled knowledge capital,”. It is to be noted here that the expenditure of global E R&D is forecast to clock $2 trillion by 2025, and the same industry is growing at an CAGR of around 12.5% in India.

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