AbstractThe need for R&D has been well recognized by the manufacturing companies in India, but it is felt that R&D has not been generally effective in having a marked impact on the growth of their business. One of the reasons for this could be discrepancies in their R&D objectives. This paper presents the results of an empirical study of the R&D objectives of a few manufacturing companies in India viewed against the background of their environments. The analysis points to the discrepancies observed in R&D objectives and hints at suitable corrective measures.