The Hindu Business Line : ‘Quality academic research needed for innovation’

Madurai, July 27 Given the development stage and the inherent advantages of India, the country needs to focus on quality academic research in innovation. There is need for product innovation in the IT sector, according to Mr S. Gopalakrishnan, Chief Executive Officer and Managing Director, Infosys Technologies.

Speaking on ‘Role of Innovation in an economic downturn’ in a ‘Star Trek Session’ organised by the Confederation of Indian Industry (CII), Madurai Zone, in association with the Tamil Nadu Chamber of Commerce and Industry, recently, he said that India was still enjoying significant growth while others are suffering negative growth.

Visible growth

The continuing growth is visible in telecom, two-wheeler/four wheeler sectors, medical, healthcare, banking, insurance and construction industry, given the size of population, market and penetration levels.

Many Indian companies while expanding within the country are also going for overseas buys.

Infosys has not cut its strategic investments even during the current downturn. Strong companies tide over the situation by aiming at value additions, he said.

‘Face the challenges’

Addressing the session earlier, Mr C.K. Renganathan, Chairman and Managing Director, CavinKare Ltd, touching on different types of innovations, said facing a challenge is more important than money. For this, every person’s attitude and aspirations matter most, he added.

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