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India: The Emerging Innovation Giant Navi Radjou Vice President, Principal Analyst Forrester Research.

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Presentation on theme: "India: The Emerging Innovation Giant Navi Radjou Vice President, Principal Analyst Forrester Research."— Presentation transcript:

1 India: The Emerging Innovation Giant Navi Radjou Vice President, Principal Analyst Forrester Research

2 2 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Source: Deepak Lal, In Praise of Empires: Globalization and Order, Palgrave Macmillan, 2004 GDP index (PPP$) China IndiaUSA ( Russia = 100) After ceding its crown as a global economic giant…

3 3 Entire contents © 2006 Forrester Research, Inc. All rights reserved Billions of US$ India GDP + China GDP India GDP China GDP US GDP Source: Goldman Sachs …India is attempting to regain it

4 4 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India’s world-class invention capabilities Source:

5 5 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India’s world-class transformation capabilities Source: Source: article/2008/06/25/AR html?hpid=entnews

6 6 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India’s world-class innovation brokering capabilities Source: Source: Source: cache.eb.com/eb/image?id=74050 Source: thumb/f/ff/EdictsOfAshoka.jpg/455px-EdictsOfAshoka.jpg

7 7 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Theme India’s core competency lies in transforming and brokering innovations for local and global consumption — instead of merely inventing new things just for the sake of inventing them

8 8 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

9 9 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

10 10 Entire contents © 2006 Forrester Research, Inc. All rights reserved. The myth... Source: Source: images.barnesandnoble.com/images/ / JPG

11 11 Entire contents © 2006 Forrester Research, Inc. All rights reserved. The reality...

12 12 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Source: Rama Bijapurkar (http://www.ramabijapurkar.com) The reality...

13 13 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Success criteria for made-in-India innovations: 1.Simple (hassle-free, intuitive use) 2.Low-cost 3.High-volume

14 14 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Case in point: Nano Sources: and

15 15 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

16 16 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Tata Motors’ Innovation Network T S Inventor R&D cranked out 40 patents for Nano design (2007) Transformer Supply chain and marketing functions are focused on scaling Nano design into a commercial reality: 250,000 units by 2009 (one million units beyond 2011) T Financier CFO office finances invention and transformation activities (emphasis on latter!) S Broker Sales and distribution functions broker access to a nationwide dealer network to speed time-to- volume

17 17 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Source:Tata Motors (http://www.tatapeoplescar.com/)

18 18 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India’s first truly multinational R&D firm: Suzlon Source:

19 19 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India’s national R&D labs now broker global connections Global partners include: Du Pont, GE, EXXON Mobil CSIR

20 20 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

21 21 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Anantha Sayana Group CIO L&T “When it comes to innovation, I want my IT staff to specialize in just two roles: 1) innovation sourcing (internal and external) and 2) project management (to monetize inventions).” At L&T, IT brokers and transforms innovation

22 22 Entire contents © 2006 Forrester Research, Inc. All rights reserved. T S Inventor Hatches a new idea or creates new product, new service, or new business model Transformer Converts inputs from inventors into market-relevant and usable products, services, or processes T Broker Facilitates global interactions among Inventors, transformers, and financiers globally Indian tech leaders don’t invent -- but transform and broker innovation... globally

23 23 Entire contents © 2006 Forrester Research, Inc. All rights reserved. ICICI focuses on replicating innovative best practices across its global business network “I consider myself as the chief innovation orchestrator -- tasked with delivering the ‘innovation piece’ wherever it was conceptualized within ICICI’s global network” - Pravir Vohra, group CTO, ICICI

24 24 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

25 25 Entire contents © 2006 Forrester Research, Inc. All rights reserved. India is emerging as a global R&D hub “Top-ranking destination countries by number of research and development projects” Source: IBM-Project Location International (IBM-PLI) Global Investment Locations Database (GILD)

26 26 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Multinationals expand their R&D presence in India Source: August 3, 2006 “Offshore Product Development Has Arrived” Report

27 27 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Microsoft’s “Unlimited Potential” program drives social innovation in Indian villages

28 28 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Cisco has begun to de-Westernize its organization by opening its 2 nd headquarters in…Bangalore

29 29 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Agenda How does the Indian market differ from other emerging markets? Which Indian organizations are championing innovative best practices? How do Indian companies exploit technology to drive innovation and sustain growth? What are the key market opportunities for US vendors in India? Public policy implications for the US

30 30 Entire contents © 2006 Forrester Research, Inc. All rights reserved. We are transitioning to a post-American tech economy… India has fastest IT growth rate compared to other emerging markets – and the US! SAP added 6 new Indian clients every working day!

31 31 Entire contents © 2006 Forrester Research, Inc. All rights reserved. …characterized by a multipolar tech world order

32 32 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Nuclear deal will turbocharge US-India Innovation Networks

33 33 Entire contents © 2006 Forrester Research, Inc. All rights reserved. US-India Innovation Networks will be anchored by region-to-region, not state-to-state-level, cooperation “The role of the economic development practitioners should be to broker innovation networks, connecting inventors, financiers, and transformers to produce results”

34 34 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Summary Innovation made-in-India must meet the “low-cost/high- volume” criteria. Indian firms — especially Indian IT leaders — are adept at transforming and brokering innovations on a worldwide basis. US vendors can handsomely profit by serving India’s growing corporate AND social innovation needs... Shunning protectionism, US policy-makers (at the regional level) must learn to broker US-India Innovation Networks

35 35 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Check out my blog: Made In India (http://discussionleader.hbsp.com/radjou/) Source: (http://discussionleader.hbsp.com/radjou/)

36 36 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Thank you Navi Radjou

37 37 Entire contents © 2006 Forrester Research, Inc. All rights reserved. Selected bibliography Forthcoming research, “Silicon Valley 3.0” October 2, 2008, “Microsoft Unleashes India’s Creative Capitalism” September 9, 2008, “ICICI Banks On Global Innovation Network Success” June 6, 2008, “Indian CEOs Seek Continuous Business Innovation” March 6, 2006, “President Bush’s Historic Visit To India Accelerates US–India Tech Cooperation” November 5, 2005, “How India, China Redefine The Tech World Order”


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