Latest news with #KishorPatil
Economic Times
13 hours ago
- Automotive
- Economic Times
KPIT CEO calls for increased R&D, deeptech investments
ETtech Kishor Patil, cofounder and CEO, KPIT Technologies India needs to push investments into research and development in technology and deeptech, and boost quality exports to compete in the automotive sector, said Kishor Patil, cofounder and chief executive of mid-tier engineering and technology services firm KPIT Technologies.'If you look right now, the innovation index of India is still very extremely low; Rundefined educational reforms which are happening should help over time. And we have to build our exports…there quality will be key. It is headed in that direction but not what we need.' India's R&D expenditure as a percentage of GDP was around 0.7% in 2024, compared with 2.68% in China, as per a discussion paper by government think tank NITI Aayog. According to Patil, with the ongoing geopolitical conflicts, supply chain issues hurting China, and Europe and the US being slow markets due to tariffs and other macro factors, 'India is the only market which is growing and open. So, my view is, this is the time we have to really build a very strong ecosystem.'One of the strengths of China has been the ecosystem built with support from its government, he said, adding that in India, the government needs to push infrastructure and automotive-focused software services provider, KPIT has increased its own R&D investments to around 6-7% of revenue from 2-3% about five years ago, he the financial year ended March 2024, KPIT spent $13.53 million on R&D as compared to $9.6 million in the previous year, as per its annual report. The FY24 spending was around 2.3% of the revenue.'For KPIT, we have a 6-7% investment into R&D, typically around 2-4% is organic and inorganically it is 2-3%,' Patil said. The Pune-headquartered company made three investments in 2023-24, worth over Rs 400 crore (around $47 million). In May this year, KPIT said it acquired US-based Caresoft Global Technologies' Engineering solutions for up to $191 million to expand its business in the off-highway commercial vehicle segment. The company will increase investment in the off-highway commercial vehicle segment, he said. The Caresoft acquisition is for that, he said, adding that it will also open the China market for KPIT along with cost reduction to compete with China's automotive FY25, KPIT's revenue grew 18% to $691 is the company's fastest growing market is Asia, with an around 20% market share, he said. 'Europe and the US are similar over 30% each. But India, Japan and, this year, Europe look better for us.'Patil expects the three regions to be key growth areas for the company with technologies like cybersecurity, autonomous vehicles and artificial intelligence being integral to the deal pipeline worth $280 million that the company indicated during its FY25 results announcement. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The bike taxi dreams of Rapido, Uber, and Ola just got a jolt. But they're winning public favour Second only to L&T, but controversies may weaken this infra powerhouse's growth story Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? Why Sebi must give up veto power over market infra institutions These large- and mid-cap stocks can give more than 23% return in 1 year, according to analysts Are short-term headwinds from China an opportunity? 8 auto stocks: Time to be contrarian? Buy, Sell or Hold: Motilal Oswal initiates coverage on Supreme Industries; UBS initiates coverage on PNB Housing
Time of India
13 hours ago
- Automotive
- Time of India
KPIT CEO calls for increased R&D, deeptech investments
KPIT CEO Kishor Patil emphasised the need for India to boost R&D investment, foster deeptech innovation, and improve export quality to compete in the global automotive sector. Highlighting geopolitical shifts and India's growth potential, he called for stronger government support, citing KPIT's own rising R&D spend and global expansion efforts. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India needs to push investments into research and development in technology and deeptech, and boost quality exports to compete in the automotive sector , said Kishor Patil , cofounder and chief executive of mid-tier engineering and technology services firm KPIT Technologies 'If you look right now, the innovation index of India is still very extremely low; Rundefined educational reforms which are happening should help over time. And we have to build our exports…there quality will be key. It is headed in that direction but not what we need.'India's R&D expenditure as a percentage of GDP was around 0.7% in 2024, compared with 2.68% in China, as per a discussion paper by government think tank NITI to Patil, with the ongoing geopolitical conflicts, supply chain issues hurting China, and Europe and the US being slow markets due to tariffs and other macro factors, 'India is the only market which is growing and open. So, my view is, this is the time we have to really build a very strong ecosystem.'One of the strengths of China has been the ecosystem built with support from its government, he said, adding that in India, the government needs to push infrastructure and automotive-focused software services provider, KPIT has increased its own R&D investments to around 6-7% of revenue from 2-3% about five years ago, he the financial year ended March 2024, KPIT spent $13.53 million on R&D as compared to $9.6 million in the previous year, as per its annual report. The FY24 spending was around 2.3% of the revenue.'For KPIT, we have a 6-7% investment into R&D, typically around 2-4% is organic and inorganically it is 2-3%,' Patil Pune-headquartered company made three investments in 2023-24, worth over Rs 400 crore (around $47 million). In May this year, KPIT said it acquired US-based Caresoft Global Technologies ' Engineering solutions for up to $191 million to expand its business in the off-highway commercial vehicle company will increase investment in the off-highway commercial vehicle segment, he said. The Caresoft acquisition is for that, he said, adding that it will also open the China market for KPIT along with cost reduction to compete with China's automotive FY25, KPIT's revenue grew 18% to $691 is the company's fastest growing market is Asia, with an around 20% market share, he said. 'Europe and the US are similar over 30% each. But India, Japan and, this year, Europe look better for us.'Patil expects the three regions to be key growth areas for the company with technologies like cybersecurity, autonomous vehicles and artificial intelligence being integral to the deal pipeline worth $280 million that the company indicated during its FY25 results announcement.
Time of India
2 days ago
- Automotive
- Time of India
ETAuto Tech Summit 2025: India's automotive tech dreams need a bold R&D reset, industry leaders at the event
The message from the ETAuto Tech Summit 2025 in Bengaluru was loud and clear: if India wants to position itself as a global hub for automotive technologies, it must significantly step up its R&D investments and build a deep, future-ready talent pool. Industry stalwarts expressed concern over India's lagging progress and emphasised the urgent need to capitalise on the growing opportunities already unfolding within the country. 'R&D spending is key to long-term growth. One of our biggest misses has been underutilising opportunities to create IP, drive deep-tech innovation, and foster a strong research culture,' said Kishor Patil , Chairman, NASSCOM ER&D Council , MD and CEO, KPIT Technologies. He added that global growth trends clearly correlate with high R&D expenditure, and it is time for Indian OEMs to move beyond their acquisition mindset and instead embrace grassroots innovation to build a solid base of patented technologies and indigenous products. Drawing comparisons with innovation-driven nations like the US and China, Patil pointed out that those countries follow a well-structured, multi-pronged approach - government-led identification of key focus areas, direct project allocation to OEMs, strong academia-industry ties, and active support for startups. 'India is only beginning to build this ecosystem,' he said. 'We need to treat this as a fire-fighting exercise if we intend to close the gap.' The numbers back his concern. India's R&D investment in the automotive sector stands at just 0.65per cent of GDP, significantly behind China (2.56per cent ), the US (3.59per cent ), Japan (3.41per cent ), and Germany (3.13per cent ). 'We have just 4,552 global patents, while China has 70,160 and the US 54,087,' Patil said. India currently ranks 39th on the Global Innovation Index 2024, while China sits at 11th. Dr. Pawan Goenka, Chairman, IN-SPACe (Indian National Space Promotion and Authorisation Centre), echoed the call for change. 'We must focus on building 'Brand India' by developing technologies indigenously, instead of always looking to acquire them abroad,' he said. 'We have fallen behind in R&D, now is the time to realign and push forward with renewed intent.' Adding further perspective, Dr. Reji Mathai, Director, ARAI, emphasised the need for localised solutions. 'Increasing the localisation of components is critical,' he said. 'We also need India-specific datasets and software solutions tailored to real-world use cases in the country.' Dr. Andy Palmer, global automotive veteran and Chairman, Inobat Auto, captured the shifting paradigm, 'The race in the automotive world today is for technology leadership over market share.' Reflecting on the current geopolitical landscape, he highlighted the importance of strategic alliances and self-reliance. 'India must act now to protect and strengthen its supply chains.'
Time of India
4 days ago
- Politics
- Time of India
Pimpri Chinchwad residents to intensify protest against draft of revised DP
Pune: Residents in many parts of Pimpri Chinchwad have intensified their protest to newly proposed roads in the draft of revised development plan (DP) with a call of bandh on June 30, claiming that the project would have a huge impact on many residential structures. The residents held a protest march on Sunday to press for their demands and raised concerns regarding the alignment of the High Capacity Mass Transit Route (HCMTR). PCMC published the draft of revised DP last month, which is currently open for public suggestions and objections. "A 24-metre-wide road has been proposed between Birla Hospital and Kaverinagar in the draft of revised DP. We lived here for over 40 years, and now the civic body wants to demolish our homes and construct a new road. More than 90% of the proposed route passes through existing residential areas," said Kaverinagar resident Kishor Patil. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Another resident, Shivaji Ibitdar of Chinchawadenagar, said his house would be affected by the HCMTR project. "In 2017, there were large-scale protests when the project was proposed. In 2018, leaders from the then-ruling party promised to change the road alignment to avoid affecting homes. But the alignment in the draft of revised DP remains unchanged. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 180k traders trust IC Markets for CFD trading | Sign up today IC Markets Learn More Undo It would affect a large number of residents," he said. Dhanaji Yelkar, convenor of the 'Swabhimani Ghar Bachao Movement', formed in 2017 to oppose the HCMTR project, said areas like Rahatni, Thergaon, Walhekarwadi, Chinchawadenagar and Bijlinagar are among the most affected. He said chief minister Devendra Fadnavis, during a recent visit to the city, assured that no project would be carried out without public consent. He also announced the cancellation of town planning schemes for Charholi, he said. "Despite repeated protests, the proposed road reservations in residential areas have not been withdrawn," Yelkar said, adding that over 25,000 objections have already been submitted to PCMC's town planning department. He further said the residents affected by proposed DP roads and the HCMTR project have planned a 'bandh' in their locality to raise their concerns. "If our demands are not met, the protests will be intensified further," he added. A senior PCMC official clarified that the reservations were proposed by the committee responsible for drafting the revised DP. Citizens have a window of 60 days from the date of publication of the revised DP to file objections. The committee will review the objections before finalising the plan and submitting it to state govt for approval.
Time of India
31-05-2025
- Politics
- Time of India
Dhule police register case against 3 in unaccounted Rs 1.8 crore seizure from govt rest house
Nashik: The Dhule police have filed charges against three people, including suspended state legislature desk officer Kishor Patil. The case involves the discovery of Rs 1.8 crore in cash at Room No. Tired of too many ads? go ad free now 102 of Gulmohar Govt Rest House in Dhule on May 21, where the booking was made under Patil's name. The charges under section 124 of the Maharashtra Police Act have been filed against Kishor Patil, Raju Mogre, and an unnamed individual. Dhule SP Srikant Dhivre said, "The case under section 124 of the Maharashtra Police Act will be investigated for necessary legal action against whoever is concerned. Soon after the cash was found in the room of the Govt Rest House, an inquiry was initiated. The case registered is based on the inquiry that has been underway since May 22. " The relevant section of the Act deals with unexplained possession of property, carrying penalties of up to one year's imprisonment and a fine up to Rs 5,000. Following reliable intelligence, Dhule police searched Room 102 of the govt rest hon May 21, discovering Rs 1.84 lakh in cash. Former MLA Anil Gote, a Shiv Sena (UBT) politician, protested outside demanding an investigation of the unclaimed money. He noted the room was registered to Kishor Patil, who serves as a private personal assistant to Arjun Khotkar, the head of the state assembly committee. The 11-member panel, including Khotkar, visited Dhule on May 21 to review public fund usage. Patil faced immediate suspension following the cash seizure. A senior Dhule police officer indicated two others were linked to the discovered money. While currently charged under section 124 of the Maharashtra Police Act, additional charges may be added as the investigation progresses. Dhule City SDPO Rajkumar Upase is leading the investigation.
