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Very often people with degrees in engineering, who are employed in different industries don't go in for research and technology development, even though they may have a talent for it. Further, industry is not keen to invest in R&D unless its innovations are adequately protected and rewarded by way of assured Return of Investment. This has now become critical in the era of globalisation. In these changed circumstances, it will become even more essential to encourage R&D funding by industry. Hi-tech industries in advanced countries are allowed to generate investable surpluses through their own rational pricing structure and profit margins. This way they are able to meet a substantial part of their R&D investments through internal accruals.
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