Consumer goods companies talk up innovation but cut down R&D spends

Indian consumer goods companies like ITC and Maruti Suzuki have notably cut R&D spending as a percentage of revenue over the past five years, despite claims of prioritizing innovation. While some firms have made minor increases in their R&D budgets, Reliance Industries stands out as the leading investor in research and development. This trend raises questions about the future of innovation within the industry. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: FMCG-Cons. Products-Industry-The Economic Times