Bruce Nussbaum says that India represents low-cost innovation.
This means not only is India cheap for getting innovation done, it also means that India innovates for those who are in the cheaper, low-end of the market.
China doesn't get those kinds of accolades, but India does, which is gratifying. This is why India needs to move up into the high-end, more value-added segment of manufacturing, where it can better use its cost advantage in quality engineering. This will diversify Indians beyond mere IT, and help produce cheaper better-engineered products that will trickle down to the masses.
1 comment:
This will last only until Arjun Singh wrecks learning institutions of excellence; China is pumping money big time into education which will pay off - India may seriously fall behind unless folks like Arjun are subject to "sudden removal" (in Karan Thapar's term)
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