Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report
![Image](https://img.etimg.com/thumb/msid-111405067,width-300,height-225,imgsize-7934,resizemode-75/indian-defence-firms-need-to-invest-more-in-innovations-and-rd-to-keep-pace-with-global-standards-report.jpg)
According to India Infoline Finance Limited (IIFL) report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.
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