Indian, Chinese firms amongst most innovative in world: Report
Washington: In countries like Europe and America, the importance of regional clusters is often emphasised for the development of new products and services, but in nations like India and China, it is global collaborations rather than regional ones that drive innovation, a report has said.
Monica Plechero, who has studied Indian and Chinese companies in the automotive, ICT and green biotech industries, said that it is still the case that both Indian and Chinese firms imitate others, but they have also become better at developing new complex products.
According to the report, the process has not been exactly the same in both countries.
China mainly develops products for the domestic market, international trade comes second, while in India, the international market is used as a springboard in product development.
Dr Plechero pointed out that the Chinese market is larger and more mature than the Indian market.
In the course of just a few years, the Chinese and Indian share of the world's research and development centres has increased from 8 to 18 percent.
Plechero also claimed that India and China invest more than the West in organisational innovation, i.e. the implementation of a company structure that creates a favourable climate for new inventions, the report said.