Innovative Financial Advisors Pvt. Ltd Research & Development For A Better Future

By Author: Anand Kumar
Total Articles: 15
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Today, technology is growing every single day. In the era of globalisation, it has become crucial for every business organization to keep up with the scientific pace of the world, for which extensive research and development program is needed. Innovative Financial advisors Pvt. Ltd. believes that better research means better utilization of sources.

If we look at the developed countries, we find that they spend a good share of their Gross Domestic Product (GDP) on R&D activities. For example, America, China and Japan spends 2.04, 1.65 and 3.48 percent respectively of their GDP on R&D, while India is far behind with just 0.90 percent. The number of researcher per million in India are just 164 which is very poor in comparison of Finland, Denmark and Singapore which have 7500, 6500, 6000 researchers for per million people respectively according to the global innovation index report 2014.From these figures it is clear that India really needs to work on its research sector if it wants to emerge as a world power. Japan sets out a solid example of how R&D can uplift a nation. Despite its adverse climate conditions, ...
... unfavorable geography, and the setback from WW2, it still managed to rise up as a world power purely on the basis of its ground breaking inventions and technology, which were the fruits of its investment in R&D.

Innovative Financial Advisors Pvt. Ltd. reviews that some people relate R&D to just defense and industry sector, but the truth is that R&D is equally important for other sectors, whether its agriculture, health, education or environment. Indian research is mostly skewed towards basic research and lacks in application oriented R&D. We go for quick acquisition of technology rather than to invest in internal research. Qualified staff is still a limited resource and small vendors have a limited exposure.

The Central Government is the biggest contributor in this sector with 54.4 percent contribution while private sector lags behind with 28.9 percent contribution. To improve this situation, we must motivate different business organizations to work in the R&D sector not just for their own growth but to contribute in the scientific development of the county as well. The benefits of a effective R&D can be promoted in various CSR conferences in India.

Innovative Financial Advisors Pvt. Ltd. believes that CSR and R&D can be linked and the path for the growth of business and country could be merged together. Under the CSR policy a business organization can establish educational institutes which aims at developing a scientific attitude in the students or various type of funds could be created to help the scientist who are working in research but are lacking financial support. Even the Small and Medium Enterprises (SMEs) can contribute to the research sector by contributing collectively and do their share of CSR for the benefit of the country and the society at large. This will eventually increase their goodwill in the market and also prove to be a good investment in the future.

Author Name - Karan Pundir
Designation - Associate - Media and Communication Team | Innovative Financial Advisors Pvt. Ltd.
Company Name- Innovative Financial Advisors Pvt. Ltd.
Phone No. - 01142332200
Email Id – Publications@fiinovation.co.in