ISID and Centre for Technology, Innovation and Economic Research (CTIER), Pune, organised a roundtable discussion on MNC R&D Centres in India on 20 July 2023. The objective of the Roundtable was to get insights into the nature of R&D taking place in MNC R&D centres in India and their spillover effects. It came out during the discussion that nature of R&D activities in these centres is changing, and studies need to be conducted to capture the same and identify measures for maximising the spillover effects. It was pointed out that the MNC R&D centres in India had grown into centres of core R&D activities, but with the adoption of industry 4.0 technologies like artificial intelligence (AI) and machine learning (ML) by these centres, they appear to become mere capability centres than full-fledged R&D centres. The panellists of this Roundtable were: Dr Naushad Forbes (Co-Chairman, Forbes Marshall), Prof Rishikesha T Krishnan (Director, IIM Bangalore), Dr Ipsita Roy (Assistant Professor, National Institute of Technology, Rourkela), Aravind Chinchure (Founder and CEO, QLeap Academy, and Former Chair Professor of Innovation and Entrepreneurship at the Symbiosis International University, Pune); Dr Arabinda Mitra, (Hon. Distinguished Fellow & former Scientific Secretary, Office of the Principal Scientific Adviser to the Government of India), and Dr Reji K Joseph (Associate Professor, ISID), moderated by Prof Nagesh Kumar (Director ISID).