Industry is forecast to accelerate at CAGR 5% over 2016-2021, driven mainly by various government incentives to support R&D business and country’s focus on renewable energy
Meanwhile, strong mix of R&D incentives and India’s ambitions on renewable energy contribute to industry’s growth
India’s R&D investment remains low in comparison with other emerging economies
Industry’s turnover grows by 12% in 2016 to Rs755.2 billion
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