Revamping India's Industry: A Push for R&D and Trust-Based Governance

NITI Aayog Member Rajiv Gauba has urged Indian industry to prioritize ramping up R&D investments and adopting trust-based governance as part of the government's ongoing reform agenda. Speaking at the CII Annual Business Summit 2026, Gauba stressed the necessity of shedding protectionist tendencies to position India as a global production hub.

Gauba pointed out that structural changes in the global supply chain due to geopolitical crises and tariff wars have shifted the focus from efficiency to resilience. He believes India has the potential to replicate the successes of companies like Apple if it competes skillfully with countries such as Vietnam and Indonesia.

The industry's low investment in R&D remains a concern, with India's spending still stuck at 0.7% of GDP, below the global average. Gauba reiterated the importance of industry investing in skilling manpower, emphasizing that workforce preparation for Industry 4.0 technologies is crucial for survival.

(With inputs from agencies.)