Indian companies fail to optimize innovations

By EgovAsia Editors | Dec 15, 2009

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"There is a strong potential for bringing ICT innovation into the Indian society from medium sized SMEs," said Mogens Kuehn Pedersen, Euro-India and Copenhagen Business School Coordinator, while inaugurating the second edition of the Euro India ICT cooperation Conference 2009 held at the International Management Institute in New Delhi, India

"The most crucial technologies for innovation are application and communication technologies," he continued while discussing the key results of the knowledge mapping study conducted during 2008-2009 as part of the Euro-India ICT Cooperation project.

Supported by the European Commission and hosted by IMI Delhi, the premier event, underpinned by a deep understanding of the EU-India innovation landscape, aims to inspire an effective two-way dialogue between Europeans and Indians serving not only to boost ICT innovation but also to expand the multi-faceted relationship that exists between Europe and India.

"Indian companies innovate with their clients and customers, but they are not taking advantage of their innovations to reposition themselves in the value chain. They are not using their innovations to move up into higher value adding positions," said Sudhanshu Rai, Euro-India and Copenhagen Business School Coordinator. "Innovative Indian companies are following a short term collaboration strategy. They do not engage in collaboration beyond their immediate customers," he continued.

"While the Indian ICT Industry is trying to think out of the box, the pace at which it has been innovating is not good enough. One of the key reasons is the lack of funding," said Ramesh Behl, International Management Institute Professor and Regional Head for the Euro India ICT Project.