Latest news with #Patil
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.
NDTV
19 hours ago
- Politics
- NDTV
July 5 March Against Hindi "Imposition": Sharad Pawar Led NCP Extends Support
Mumbai: The Sharad Pawar-led NCP (SP) on Friday said it will support the protest march scheduled for July 5 here against the "imposition" of Hindi in the school curriculum in Maharashtra through the National Education Policy 2020. The protest is being organised against the state government's plan to implement a three-language formula under NEP 2020, which includes making Hindi compulsory from Class 1. In a open latter shared on social media, NCP (SP) Maharashtra unit chief Jayant Patil, while announcing decision, said his party stands firmly with the people of Maharashtra on matters of regional interest. "Whenever the interest of Maharashtra is at stake, we stand with Maharashtra. And when the interest of the nation is at stake, we stand with the nation, setting aside political lines. That is the core policy of the NCP (Sharadchandra Pawar)," Patil said. The move has been opposed by educationists, parents, linguists and activists who argue that early education should take place in a child's mother tongue, Patil said. The Marathi-speaking population is not opposed to learning multiple languages, including Hindi, Patil said, but insisted that imposing Hindi at the primary level is unacceptable. "If the three-language policy is being used as a tool to sideline the mother tongue, then the Marathi-speaking community will unitedly resist such moves," he warned. Asserting that the issue concerns linguistic and regional identities, he asked party office-bearers, elected representatives, and workers to participate in large numbers in the July 5 march. The march is aimed at safeguarding the role of Marathi in school education, Patil added.
Time of India
19 hours ago
- Time of India
Fatal gate collapse: Work begins to alter Siddharth Garden entrance
Chhatrapati Sambhajinagar: The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has begun modifying the entrance gate of Siddharth Garden and Zoo to enhance safety, following a tragic incident on June 11 where two women visitors died after a portion of the gate collapsed on them. On Friday, the CSMC started demolishing the arch-shaped, dome-like structure of the gate, which was involved in the fatal accident. Civic officials said that a structural audit deemed the existing entrance gate hazardous, necessitating its modification to ensure public safety. The entrance gate, along with adjacent shops and other facilities, was completed on June 23, 2022, under a Build-Operate-Transfer (BOT) contract. The tragic incident, where the gate collapsed amid heavy winds, resulted in the immediate deaths of two women visitors. In response to the accident, an offence for culpable homicide and other charges have been registered against five individuals associated with Prakash Developers — the private firm involved in the gate's construction. Civic activist Rajendra Datey Patil, who has demanded a high-level inquiry into the accident, said expenses towards modification of the entrance gate of the public garden should be recovered from the private firm. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nagelpilz-Clip bricht Verkaufsrekorde - funktioniert er wirklich? Apotheken Aktuell Undo "The civic body must not shoulder the expenses. The necessary modification must be made by invoking the clause of the defect liability period mentioned in the BOT contract," he said. Patil also reiterated the demand for action against the civic officials for the June 11 incident. "I had written a letter to the Chief Minister's office (CMO) demanding action against the civic officials who overlooked their duty. The civic authorities should have prevailed upon the private contractor to ensure safety of the entrance gate," he added.
New Indian Express
21 hours ago
- Business
- New Indian Express
Government moots plans for effective water management
NEW DELHI: To reduce the wastage and misuse of groundwater, the Union Government has identified pilot projects for effective water management. 'We are in the process of finalising the pilot projects,' said CR Patil, Union Minister for Jal Shakti. 'These projects will provide adequate water at a central location with enough pressure so that different farmers can utilise it according to their needs." However, in response to a question about whether the Centre has any plans to tax water supplied to farmers, Patel categorically said that the matter falls under the jurisdiction of state governments and is a state subject. The scheme aims for modernisation of the irrigation water supply network to supply irrigation water from existing canals or other sources in a designated cluster. It will make robust backend infrastructure for micro-irrigation by farmers from established source to the Farm gate up to 1 Ha with underground pressurised piped irrigation. The technology will be used for water accounting and water management. This will increase the Water Use Efficiency (WUE) at the farm level, increase agriculture production & productivity; and thereby increase the income of farmers. 'We are in the process of finalising the pilot projects,' said Patil. 'These projects will provide adequate water at a central location with enough pressure so that different farmers can utilise it according to their needs.' According to the Annual Groundwater Extraction report, the agricultural sector accounts for 87% of the total 239.16 billion cubic meters (BCM) of water extracted. Indiscriminate extraction led to severe depletion of ground water in different states. For this scheme, the Central government has allocated ₹1,100 crore, with an additional ₹500 crore provided from other projects. 'This decision will revolutionise the agriculture sector,' stated Patil. When asked about India's stance on the Ganga Water Treaty, which is set to expire next year, Patil stated that a decision would be made in the country's best interest, as it is an international treaty. 'The current political situation in Bangladesh is not conducive to discussing another river treaty like the Teesta,' Patil noted while interacting with the media on the 11th anniversary of the Narendra Modi government.
