According to a study by the European Commission, Indian companies top globally in terms of growth in their research and development (R&D) investments, leaving their counterparts in the US and Europe far behind.
The largest increase in R&D investment was reported by companies based in India (35.1 per cent), followed by China at 28.1 per cent, the study said.
The R&D investment of US-based companies grew by 9 per cent, while that of companies from the EU rose by 8.9 per cent, shows the 2012 EU Industrial R&D Scoreboard report.
However, Indian firms rank far below when it comes to absolute R&D investments made by them and the top-ranked company from the country, IT major Infosys, is ranked at 329th place globally, shows the latest annual global R&D Scorecard for 2012 prepared by European Union’s executive body, the European Commission.
Japan’s Toyota Motor is ranked highest, followed by US-based Microsoft, Germany’s Volkswagen, Swiss pharma giant Novartis, South Korea’s Samsung Electronics, American drugmaker Pfizer, Switzerland’s Roche, Intel, General Motors and Merck US in the top ten.
The top-ranked Indian company is Infosys at 329th place, followed by Reliance Industries (507th), Dr Reddy’s (776th), Tata Steel (867), M&M at (888), Lupin (916), Ashok Leyland (1136), ONGC (1,222), BHEL (1,230), Cipla (1,275), Cadila Healthcare (1,313), Glenmark Pharma (1,314), Sun Pharma (1,336) and Wockhardt at 1,472nd place globally.
These are the only 14 Indian companies present in a list of top-1500 entities worldwide in terms of their annual R&D investments.