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Sunday, May 28, 2006

Innovation goes East

Innovation has become increasingly global, and over 75% of new research and development (R&D) sites planned over the next three years will be established in China and India, according to a recent survey on global R&D networks jointly conducted by INSEAD, a leading business school, and management consulting firm Booz Allen Hamilton. Traditionally R&D by MNCs in India was for technology adaptation to meet local conditions.Now it is going to be different-it will be for dev of global products & services. Still there is long way to catch with advanced countries, no one is planning to set up R&D in India to access knowledge in local clusters, the attraction is low cost of highly qualified engineers and scientists.
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