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Innovation, along with research and development, will be key drivers for growth of the manufacturing sector, said HP Purushotham, Chairman and Managing Director of the National Research Development Corporation. He added that necessary measures are needed to close the gap in the innovation chain by value addition. Purushotham was speaking at the CII Manufacturing Innovation Conclave on Friday. According to CII, the total spending on R&D is around 1 per cent and the Government’s spending is two to three times more than that of the industry’s spend.
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