Rajan said some group companies such as Tata Industries and Tata Capital have been taking the agenda of innovation ahead and providing risk capital to new ventures. "At present, the group together spends around 2.5% of total revenue on R&D which will go up in the days to come."
Tata Sons has also created a team of chief technology officers across the group and it meets twice a year "to foster closer collaboration between group companies", he said. "All such efforts and initiatives will be intensified."
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