'Need to strengthen research for more 'Made in India' brands'

KOLKATA: Industry experts today said there is a need to strengthen and increase investment in research and innovation in the country's corporate sector for more 'Made in India' branded products.

In a Trade Symposium organised by the Indian Institute of Foreign Trade (IIFT) here, Siemens Executive Vice-President ( South Asia) Tilak Seth said there is a shortage of vocational skills in the country.

"There is a need to invest in innovative ideas so that India can claim its home manufactured brands and innovations," Seth said.

Stemcor India Director Vineet Mehra said corporates needed to focus on strengthening research and development something on the lines of "shale gas in the US which has made that country an energy-content economy".

Panelists at the symposium comprised PWC Executive Director Ambarish Dasgupta, United Spirits Head of manufacturing Pallav Chakraborty, Kolkata Port Trust traffic manager Utpal Sinha, IIFT professor Ravi Shankar and IIFT Head K Rangarajan.

The speakers also discussed the role of technology in enhancing trade, role of commodity boards in promotion of trade and importance of trade finance.