Innovation: The Frugal Way

Innovation: The Frugal Way

Author Name : Desai Rima, Dr Margie Parikh

ABSTRACT

India is touted as one of the most attractive destinations for Research &Development ( R& D) – for example, the country is already home to nearly 1,000 R&D centers for leading multinationals. Bangalore is globally recognized as the fifth most-preferred destination for large companies and startups with regard to technology and innovation capacities. India’s R & D expenditure is at par with emerging economies but still lacks considerably in terms of innovations. The Jugaad mentality of Indians needs to be remoulade for Frugal Innovation, as their products need to compete in the global market. The current paper throws light on the innovation status of India and makes India a hub for frugal innovations.