New Delhi, April 19 -- A new report from NITI Aayog highlights that India's automotive industry is being held back by inadequate research and development spending.

Despite being one of the world's largest automotive markets, Indian companies' R&D investments fall significantly short compared to global competitors.

The government think tank's report reveals that major Indian automakers spend only 2-3 per cent of their revenue on R&D, while international manufacturers invest 5-12 per cent. .

This disparity has created a dependency on foreign technology and limited India's ability to develop indigenous advanced automotive solutions.

NITI Aayog emphasises that increasing R&D spending is crucial for India to compete globally, especially as...