As part of its strategy to transform itself into a technology-driven company, Havells India has decided to double its R&D spend in the next couple of years.
Also, the consumer electrical goods and appliances maker will set up a state-of-the-art design studio and expand its R&D team.
Speaking to BusinessLine, the company’s Chief Technology Officer and Executive Vice-President Mukul Saxena, said, “We plan to double investments inR&D in the next 1-2 years. On an average, the company currently spends about 1 per cent of its turnover on R&D, and we will ramp it up to 2 per cent.”
A former senior executive of Siemens, Saxena was roped in by Havells to spearhead these efforts. “We are looking at re-skilling some of the people in our R&D team and adding more people,” he added.
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