In my previous post, the reasons for lack of innovation in India were dealt with. But, here is an interesting perspective to innovation itself and how we perceive it.
Nirmalya Kumar, Professor at London business School has discovered some startling things about innovation in India. He negates the reasoning that innovation in India is not killed by our regimented education system and there is plenty of innovation.
A new dimension of innovation has been given and termed as “invisible innovation”. Innovation is anything that adds value and is novel in its approach. So, when we see tangible products as a result of innovation, India may not have a direct role in it but it has a substantial share in process innovation which leads to the end product itself.
According to the statistics, about 750 Research & Development centres in India by MNCs that operate at a global level. This means that Indians working for these 750 centres have a full-time job which involves nothing but innovation.
This reinforces the fact that there is no dearth for innovation in India and it is just that we do not see it in a tangible form. When a product comes out in the market, it bears the name of the company but not where it was created and there is a difference between ‘creating’ and ‘making’.
This challenges our earlier perspective of innovation and throws open some interesting new ways of looking at it. There are basically three types of innovation in India,
- Product innovation
- Process innovation
- Management innovation
A new product is released in the Silicon valley by Google. It could be an analytical tool or a virtual drive or anything. But, there is every chance that it was created(at a conceptual level or implementation leve;) in India.
India being the hug of outsourcing, the innovative Indian brain has developed ‘predictive modeling’ which improves the speed of operation thereby increasing operational efficiency and productivity.
By injecting a dash of intelligence in the ways of managing itself, India is well represented in terms of innovation of this sort with 2 out of every 3 Fortune 500 companies around the World.
There are some major implications of this shift of the innovation hub into India which you could learn watching the video. (After all, something should be left for them to watch in the video)
India’s New Entrepreneurs by Prof. Nirmalya Kumar
So, there you have it – If you thought there is no innovation in India, you are wrong. There is innovation, but “invisible”!