Bangalore, July 30 (UNI) Marico Innovation Foundation-Erehwon Innovation Consulting, in collaboration with Altair India, today unveiled the 'Product Innovation Manifesto,' in a move to understand the exact requirement for spurring production of innovative and breakthrough products in the country.
Briefing reporters on the study, Marico Industries CMD and Marico Foundation founder Harsh Mariwala said the manifesto was a result of dialogues conducted with over 500 CEOs and senior executives across industry segments, resulting in articulations of deep 'frustrations' and hopes regarding the state of 'Indian innovation.' The research culminating in the manifesto, involved industries like automotive, consumer durables and electronics, FMCG and infrastructure among others.
The manifesto cautioned against too much resiliance on IT and ITeS sector or the ''dubious'' status of the low cost manufacturer. It also highlighted the need to develop, manufacture and market products that catch world's imagination, should India wish to overcome the 'powerhouse-to-be' tag and emerge as a power to reckon with, he said.
''The manifesto is an in-depth insight into mindsets and related shifts that act as key triggers to product innovations in Indian companies,'' he said.
Structured in two parts, the manifesto articulated the mindsets that were blocking the product innovation in the country and the mindset shift required. In the second half it harps on five product innovations -- building insights into what it takes to make them happen. These included successful innovations by Tata Refractors, Titan Edge, Bosch India, Sukam and Kirloskar Brothers.
UNI RS SJ 1635