Nasscom's panel discussion on Innovation in R&D.
Is Indian industry too services-oriented and culturally lack the spirit of innovation, or is it on its way to becoming a hub for innovation? These were some of the thought-provoking issues that were discussed during a Nasscom's panel discussion on Innovation in R&D. Out of the total Indian IT/ITES $22.2 billion export pie, R&D services including both captive and third party account for $2.7 billion and is growing at 35% every year. Milind Gandhe, GM, Strategic Planning, Sasken Communications, a company that is into both R &D services as well as products, said that it was important for companies to get an early start into the market and get aggressive by being part of standardization bodies to get an edge in filing patents. All the panelists also agreed that the Indian IT professional's traditional risk averse mindset was more oriented towards services, and this had to change if India wants to be reckoned as a serious player for product innovation.
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