Role of Indigenous R&D in the Present Industrial Scenario

Abstract

In a global scenario where cut -throat competition is there, significance of R&D is increasing for survival of industries . The paper discusses the important factors, which require attention in controlling R&D activities for the growth of an organization . It suggests some cost reduction measures where R&D plays an important role. One of the functions of R&D is continuous improvement in the product in order to face the competition posed by liberalization of economy . The strategy for identifying short term and long term R& D projects have been discussed. The paper suggests that the closer cooperation between R&D and marketing department is the need of the hour for the growth of industries.