Tata Motors and drugmaker Ranbaxy are among the seven Indian firms in the world's top 1,250 companies ranked on the basis of investments in research and development.
According to a study by the UK government, the world's top 1,250 R&D investment companies together spent 244 billion pounds ($507 billion) in 2006, up 10 per cent from the previous year.
Companies from the US, Japan, Germany, France and the UK dominated the rankings and contributed 81 per cent of R&D by the G1250, the list of world's biggest investors. In contrast, the seven Indian companies spent just about $557 million on research and development activities.
"Firms from India and China have yet to establish themselves as significant players in the G1250, although other evidence suggests that both countries are increasingly important locations for R&D," the British government's department for innovation, universities and skills said in its '2007 R&D
Scoreboard' report, released earlier this week.
The study also included a list of top 850 UK firms, whose R&D spending grew by nine per cent to 20.9 billion pounds. The global list of 1,250 companies included 75 UK firms.
Only one Indian company managed a place in top 500, while the top-1000 list included four companies from India. Tata Motors was the top ranked Indian firm (401st; 91.99 million pounds; followed by Ranbaxy (683rd; 45.82 million pounds), Kpit Cummins Infosystems (861; 33.29 million pounds) and Dr Reddy's Labs (971; 28.24 million pounds).
Mindtree Consulting (ranked 1,079; 23.84 million pounds), Sun Pharma (1,102; 23.25 million pounds) and Mahindra and Mahindra (1,147; 21.74 million pounds) completed the list of Indian firms.
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