National Manufacturing Innovation Survey 2021- India

 

The 3-year effort produced 6 reports and a comprehensive overivew is captured in the #NMIS 'Summary for Policymakers'. Download reports: https://lnkd.in/gpa8weDZ

Conclusions:

• Innovation performance (output) lags behind presence of enablers and absence of barriers (input)
• Presence of enablers has greater impact on performance than the absence of barriers
• Innovation is beneficial to business success in manufacturing
• At least 70 percent of the firms are innovation-inactive
• Aspiration for topline growth drives innovation, but it could also be at odds with innovation 
• Activities exclusively focused on innovation correlate to higher innovation success 
• Firms with more than basic innovation capabilities demonstrate higher success in innovation.
•  Basic ecosystem enablers are essential but insufficient on their own to help firms increase their ability to innovate.
• Finance is the most cited barrier to innovation in Indian manufacturing
• Frequencies of innovation barriers differ by region in India

The report recommended  ‘Innovate to Make in India’ as a manufacturing innovation strategy'. The survey findings demonstrate that despite proven business benefits, manufacturing firms showed high-risk aversion and limited entrepreneurial appetite to engage with innovation. Predominantly, it was observed that firms were responding to the immediate demands in the market, instead of competing for new products that are needed to compete in the future. In this context, a long-term manufacturing innovation strategy is critically urgent. Thus, to make innovation a priority for manufacturing firms, a concrete step forward would be to complement the ‘Make in India’ with an “Innovate to Make in India” strategy. This may then include broad based awareness, promotional measures and investment incentives, along with sectoral sub-strategies with concrete innovation targets or roadmaps.

Report: http://www.nstmis-dst.org/NMIS/assets/pdf/Assessment%20of%20Firm-Level%20Innovation%20in%20Indian%20Manufacturing.pdf

2013 China Innovation Survey

The China Innovation Survey is jointly conducted by the Benelux Chamber of Commerce in China, 21st Century Business Review, China Europe International Business School, and Booz & Company. Findings:

• China is well on its way to becoming a true global innovation hub for MNCs from developed markets: Two-thirds of the MNCs in China that took part in the survey reported that they are already conducting product development for foreign or global markets.Participants were even more aggressive in their projections, they expect to be conducting global R&D in China for the rest of the world 10 years from now.
• In addition, the survey contradicts a piece of conventional wisdom: that innovation in China tends to focus on copying and making incremental improvements to existing products. In fact, the data shows that Chinese companies—to a higher degree than most global competitors—pursue the same practiced by the world’s most successful innovators, notably companies based in Silicon Valley. These companies pursue Need Seeker strategies : focusing their R&D efforts on consumer needs, developing products that meet those needs, and then quickly getting the products to market.
• Apart from the optimism, the Chinese firms and MNCs in China share the confusion: neither are clear on Key Capabilities.

For copy of the report contact: Kevin.lu@innoenterprise.com