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Indian auto cos lag in R&D spend


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labrea
Indian cos lag in R&D spend
by labrea on Aug 24, 2006 12:49 AM

No surprise here. All the major Chinese cos, including the car makers are either wholly or majority owned by the Chinese govt, and has the full backing of the state exchecquer for R&D expenses, as opposed to their useless Indian PSUs, which were created chiefly for import substitution based on expensive and obsolete 'borrowed' technologies, and were run by useless myopic babus whose only concerns were collecting their 'perks' and salaries, rather than R&D for export product development. Private sector cos had to jump through hoops to get foreign currency - they spent almost as much on bribing netas and babus for 'permission' as it cost to buy foregn equipment.

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