BHEL among top R&D spenders

BHARAT HEAVY ELECTRICALS Limited (BHEL) recorded nearly 14 per cent growth in its intellectual capital in the fiscal year 2016-17 when 508 patents and copyrights were filed by the State-run firm, according to a BHEL media note. This was nearly two patents every working day on innovation and developing new technologies and products. With this, the firm's intellectual capital had gone up to 3,915 patents and copyrights filed which were being used in the firm's business. During this period, BHEL invested Rs 794 crores on research and development (R&D) initiatives using state-of-the-art technologies and processes. It was 2.75 per cent of its turnover. Significantly, the firm continued to rank among the highest R&D spenders in the engineering and manufacturing segment in the nation. Commercialisation of products and systems developed through in-house R&D contributed around 21 per cent of the firm's total turnover of Rs 28,840 crores in 2016-17. Notably, BHEL was one of only four Indian firms and the only Indian public sector enterprise that figured in The Global Innovation 1000' of Booz & Company, a list of 1,000 publicly-traded companies.
Source: EXPRESS epaper. . newindianexpress. corr