Radjou India Oct14

India: The Emerging Innovation Giant
Navi Radjou
Vice President, Principal Analyst
Forrester Research
After ceding its crown as a global economic giant…
900
800
GDP index (PPP$)
700
600
500
400
300
200
100
0
1500 1600 1700 1820 1870 1913 1998
China India USA
(Russia = 100)
Source: Deepak Lal, In Praise of Empires: Globalization and Order, Palgrave
Macmillan, 2004
2
Entire contents © 2006 Forrester Research, Inc. All rights reserved.
…India is attempting to regain it
80000
70000 US GDP
China GDP
60000
Billions of US$
India GDP
50000 India GDP + China GDP
40000
30000
20000
10000
0
2000 2010 2020 2030 2040 2050
Source: Goldman Sachs

3
India’s world-class invention capabilities
Source: www.isro.org
4
India’s world-class transformation capabilities
Source: http://www.washingtonpost.com/wp-dyn/content/
article/2008/06/25/AR2008062500566.html?hpid=entnews
Source: http://akgoyal.com/wp-content/uploads/2007/09/india-wins-t20-world-cup.jpg
5
India’s world-class innovation brokering capabilities
Source: www.regalhotel.com
Source: www.jobsletter.org.nz
Source: http://upload.wikimedia.org/wikipedia/commons/
thumb/f/ff/EdictsOfAshoka.jpg/455px-EdictsOfAshoka.jpg
Source: cache.eb.com/eb/image?id=74050
6
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
7
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
8
Agenda
• How does the Indian market differ from other

emerging markets?
Which Indian organizations are championing
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
The myth . . .
Source: images.barnesandnoble.com/images/
14910000/14910017.JPG
Source: http://www.people.hbs.edu/tkhanna/Khanna.jpg
10
The reality . . .
11
The reality . . .
Source: Rama Bijapurkar (http://www.ramabijapurkar.com)

12
Success criteria for made-in-India innovations:
1. Simple (hassle-free, intuitive use)

2. Low-cost
3. High-volume
13
Case in point: Nano
Sources: http://uberdesi.com/blog/wp-content/uploads/2008/01/nano.jpg and http://imod.co.za/wp-content/uploads/2008/01/tata-nano.jpg
14
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?
15
Tata Motors’ Innovation Network
R&D cranked out 40 patents for Nano design
(2007)
Inventor
Supply chain and marketing functions are focused

T on scaling Nano design into a commercial reality:
250,000 units by 2009 (one million units beyond
Transformer
2011)
T CFO office finances invention and transformation
S activities (emphasis on latter!)
S Financier
Sales and distribution functions broker access to a

nationwide dealer network to speed time-to-volume
Broker
16
17
Source:Tata Motors (http://www.tatapeoplescar.com/)
India’s first truly multinational R&D firm: Suzlon
Source: www.suzlon.de
18
India’s national R&D labs now broker global
connections
CSIR
http://www.csir.res.in/
Global partners include:

Du Pont, GE, EXXON Mobil
19
Agenda
How does the Indian market differ from other emerging

markets?
• How do Indian companies exploit technology to
drive innovation and sustain growth?
in India?
20
At L&T, IT brokers and transforms innovation
“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).”
Anantha Sayana
Group CIO
L&T
21
Indian tech leaders don’t invent -- but transform and
broker innovation . . . globally
Hatches a new idea or creates new product, new service, or new
business model
Inventor
Converts inputs from inventors into market-relevant and usable products,

services, or processes
T T
Transformer
S
Facilitates global interactions among Inventors, transformers, and
financiers globally
Broker
22
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
23
Agenda
How does the Indian market differ from other

emerging markets?
• What are the key market opportunities for US
vendors in India?
24
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)
25
Multinationals expand their R&D presence in India
Source: August 3, 2006 “Offshore Product Development Has Arrived” Report
26
Microsoft’s “Unlimited Potential” program drives
social innovation in Indian villages
27
Cisco has begun to de-Westernize its organization by
opening its 2nd headquarters in…Bangalore
28
Agenda
How does the Indian market differ from other

emerging markets?
in India?
• Public policy implications for the US
29
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!
30
…characterized by a multipolar tech world order
31
Nuclear deal will turbocharge US-India Innovation
Networks
32
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”
http://www.bayeconfor.org/media/files/pdf/InnovationDrivenEconomicDevelopmentModel-final.pdf
33
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
34
Check out my blog: Made In India
(http://discussionleader.hbsp.com/radjou/)
Source: (http://discussionleader.hbsp.com/radjou/)
35
Thank you
Navi Radjou
nradjou@forrester.com
650.581.3849
www.forrester.com
36
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”
37

Radjou India Oct14

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India: The Emerging Innovation Giant

China India USA

Source: Goldman Sachs

India’s core competency lies in

• How does the Indian market differ from other

• How does the Indian market differ from other

Source: Rama Bijapurkar (http://www.ramabijapurkar.com)

1. Simple (hassle-free, intuitive use)

Sources: http://uberdesi.com/blog/wp-content/uploads/2008/01/nano.jpg and http://imod.co.za/wp-content/uploads/2008/01/tata-nano.jpg

How does the Indian market differ from other emerging

Supply chain and marketing functions are focused

Sales and distribution functions broker access to a

Global partners include:

How does the Indian market differ from other emerging

“When it comes to innovation,

Converts inputs from inventors into market-relevant and usable products,

“I consider myself as the chief innovation

How does the Indian market differ from other

Source: August 3, 2006 “Offshore Product Development Has Arrived” Report

How does the Indian market differ from other

SAP added 6 new

“The role of the economic

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