Why Reliance Cancelled it's cell-manufacturing plans? - Indian Startups News 296

00:00 – Intro 00:50 – India’s R&D Problem 05:31 – Ola Electric's new launches 06:55 - Quick News 08:15 - Indian Startup News This week on Backstage with Millionaires, we dive into the R&D gap that's holding back India’s tech ecosystem and how this is affecting the future of innovation in the country. We examine the big story behind Reliance Industries pausing its battery manufacturing plans due to a lack of local technology, and how China's massive R&D investments have propelled it to the forefront of global exports. In this episode, we explore the differences between India and China in R&D spending, with India contributing a fraction of its GDP to research and development compared to China’s 2.6%. We also break down how India’s biggest players, like Reliance, are forced to rely on foreign technology, while Chinese companies like Huawei spend billions to innovate in-house. We highlight Ola Electric’s success story, which is challenging the norm by investing 7% of its revenue in R&D, leading to the development of India’s first indigenously developed lithium-ion cell, the 4680 Bharat Cell. Will other Indian corporates follow suit? Watch this space as we discuss the road ahead for India’s deep-tech future. In Quick Updates, we cover: Pync shuts down, as competition heats up in the instant home-services market. Unacademy moves to a fully franchise model, cutting costs and refocusing its efforts. Shadowfax set to go public with its IPO opening on 20th January. Plus, a special shout-out to the companies raising funds this week, including Pee Safe, BillionE Mobility, and Liquidnitro Games. Stay tuned to Backstage with Millionaires for more insights into India’s evolving startup landscape. Don’t forget to like, share, and subscribe for the latest updates! Disclaimer: Zero1 by Zerodha supports creators and storytellers through its network. The views expressed in this video are solely those of the creator and are not endorsed by Zero1.