FAST India Releases State of Industry R&D for Energy sector in collaboration with IIFL Securities
The latest brief by the Foundation for Advancing Science and Technology (FAST) India presents an in-depth analysis of R&D trends, innovation outputs, and comparative performance metrics of major Indian chemical sector firms against their global counterparts.
August 09, 2024. By News Bureau
The report underscores significant disparities in R&D intensity, the proportion of PhD employees, and patent output, while showing better performance in publication rates, providing important insights for policymakers and industry stakeholders.
The report reveals critical insights into the performance of Indian energy firms in various domains of R&D and innovation, comparing them with their global counterparts as well as categorising Indian firms into high-revenue and low-revenue clusters to provide a more nuanced analysis.
“Three Indian energy firms (Coal India, RIL, and ONGC) ranked amongst the top five firms for R&D intensity. Overall, the global energy firms show 2.5x higher R&D intensity compared to the Indian firms. Coal India ranks first overall, with an R&D intensity of 3.8 percent, much higher than PetroChina (0.9 percent) which comes in second place,” shared a statement issued by FAST India.
The brief also mentioned that Global firms outperformed Indian firms for the proportion of PhD employees by 4.0x. “Equinor ranks first among global firms in the proportion of PhD employees with 2.07 percent. BPCL ranks first among Indian firms and 8th overall,” noted the statement.
On the publication front, the brief noted, “Indian energy firms outperformed global firms by 1.1x in publications per billion USD revenue. Coal India maintains its first rank in publications per USD billion revenue by publishing more than 3.4x the second-ranked firm, Tata Power, indicating a strong focus on research and dissemination amongst all firms studied. NHPC Limited ranks fourth in this parameter. RIL and IOCL have the maximum absolute number of publications over the study period in the high revenue cluster for Indian firms, at 262 and 218 respectively.”
The brief further highlighted that Indian firms significantly lag in patent output, with global firms producing 9.9x the number of patents per billion USD revenue as compared to Indian firms. While Reliance Industries Ltd. performs well for patents by revenue as compared to other Indian firms, it does not rank amongst the top five global and Indian firms overall.
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