Governor stresses R&D

By Our Staff Reporter

HYDERABAD, JUNE 23.

Expressing concern over the drop in R and D expenditure (in proportion to sales) in a wide spectrum of Indian companies surveyed recently, the Governor, Dr. C. Rangarajan, called for a reversal of this trend.

He was speaking at the 21st anniversary celebrations of the Centre for Organisation Development (COD) here on Saturday. He also presented the V. Krishnamurthy Award for Excellence to Mr. N. Vittal, Chief Vigilance Commissioner.

Referring to the new challenges arising out of globalisation, he said a greater integration of the Indian economy with the rest of the world was unavoidable. Many countries were knocking at the door of the World Trade Organisation to enter it. It was important that the Indian industry became forward-looking and got organised to compete with the rest of the world at tariff levels comparable to those of other developing countries.

Indian firms were becoming and should become global players. They must be able to meet the global competition. The primary focus should be on the strategy and quality of micro-economic business management and the goal to achieve higher levels of efficiency and productivity. A new productivity culture must emerge and with it, an organisational structure that promote productivity.

Mr. Vittal, in his acceptance speech, said his guiding principles and philosophy was to have a positive outlook, creative approach and sound common sense.

Mr. B.L. Maheswari, Chairman, COD, highlighted the achievements of the organisation. Mr. T.P.G. Nambiar, Chairman of the Awards Committee spoke. The Governor also released a book titled "Honk", written by Prof. Moid Siddiqui of the COD.

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Section  : Southern States
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