Global advisory and management consulting firm Zinnov said in a report that India has the opportunity of creating 200,000 jobs in the research and development (R&D) space in the next five years, Economic Times reported. The country has a presence of 228 of the top 500 firms globally.
According to the ET report, the Zinnov report mentioned, “In keeping with the historic trend that companies with a higher R&D spend find India more attractive for investments, there is a clear opportunity to create additional 200,000 R&D jobs in India by global 500 companies in the next 5 years”.
“In 2012, 26 firms increased their global R&D spend by at least 20 per cent and contributed over $19 billion. Fourteen of these companies have a presence in India and have increased their global R&D spend by $14 billion, of this only $129 million was invested in India,” the report further said.
Read the complete report here