KPIT CEO calls for increased R&D, deeptech investments

India needs to push investments into research and development in technology and deeptech, and boost quality exports to compete in the automotive sector, said Kishor Patil, cofounder and chief executive of mid-tier engineering and technology services firm KPIT Technologies.

“If you look right now, the innovation index of India is still very extremely low; R&D investment as a percentage of GDP is one of the lowest (globally). And now, with the tech world (developments), undoubtedly, we have to do that,” Patil said during an interaction with ET. “In deeptech, we need more patient capital; educational reforms which are happening should help over time. And we have to build our exports…there quality will be key. It is headed in that direction but not what we need.”