Many reputed companies abroad spent nearly 10% of their revenue (quite significant) towards Research & Development. Why?
(2)Hence it is not surprising that companies there spend a large part of their budget on R&D to improve the existing products and develop the new ones.
(3)Further, competition today is so fierce that it is a survival game for all. It is either perform or perish situation. Before, the competition was mainly between Europe and Americans. However, today, Asia has joined them in almost all fields. Especially countries like South Korea, Japan, China, Singapore, Hong Kong and India are in no holds barred competition with the West in almost all fields. You must be aware that due to this competition, almost all major companies around the world have opened their R&D in India which has a great talent pool in addition to having the advantage of low cost. You can say that it is a sort of brain harvesting.
(4)You might have seen that every year mobile, ele ...more