Indian companies across sectors like pharmaceuticals, chemicals, auto & auto ancillaries, etc have been investing heavily into R&D to develop sustainable competitive advantage and become future-ready. Government has also been providing tax incentives as well as monetary support via budgetary allocation to encourage companies to invest more into R&D.

• This smallcase consists of companies focused on innovation whose R&D expenditure as a percentage of sales has been consistently above their sector averages
• These companies also record more than 10% increase in their absolute spending on R&D over the years

This smallcase comprises companies that are spending on R&D to build innovative, future-ready goods and services.