Here's one way to look at it (thanks to Pradeepkumar for the pointer):
The top 10 Indian firms, put together, invested 477 million euro last year for R&D, less than one-tenth of the world's biggest R&D investor Pfizer.
The total R&D spending by top 10 Indian companies is also less than what the lowest ranked company among the world's top-50 spends.
Just after this year's Central Budget was presented, I did an analysis of public spending on R&D in India. My estimate for government support for academic R&D in all our universities was less than half a billion dollars. This figure is exceeded by the R&D budget of each of the top five (and probably many more!) US universities.