INVEST IN RESEARCH & DEVELOPMENT

For strategic independence, India needs to foster a robust domestic Aerospace and Defence manufacturing ecosystem through investment in Research & Development

- ROHIT GOEL

THE 'MAKE IN INDIA' CAMPAIGN, INITIATED BY THE PRIME Minister of India in 2014, was designed to invigorate the country's manufacturing sector and bolster employment opportunities. Among the 25 key sectors prioritised, the aerospace and defence (A&D) industry stood out, with objectives encompassing self-reliance, indigenisation, economies of scale, export capabilities, technology transfer, and domestic research and development (R&D). However, India's R&D performance in comparison to global standards remains suboptimal, underscoring the pressing need for enhanced investment in this critical domain. Building an effective domestic A&D manufacturing ecosystem, hinges on a robust commitment to R&D, aligning India's economic aspirations with innovative prowess and technological advancement.

Research and Development (R&D) constitute the cornerstone of organisational growth and innovation. By harnessing R&D, enterprises can achieve heightened operational efficiency, cost reduction, and the introduction of groundbreaking products that confer a competitive edge. India's journey towards becoming a manufacturing hub akin to Japan, Germany, and China is contingent upon establishing a vibrant R&D culture that aligns with its long-term economic ambitions. Crucially, R&D empowers organisations to not only stay competitive but also to lead in a rapidly evolving global landscape.