The Telegraph
Friday , December 7 , 2012
Since 1st March, 1999
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Innovation key to beat rivals

Calcutta, Dec. 6: In an era of rapid technological change, innovation is the key to survival in a competitive market, industry leaders today said at a session of Infocom 2012.

While focus should be on changing the education system to improve innovation in India, accepting failure in the effort is also necessary, they agreed.

The Infocom’s “power session” on Day 1 was about brainstorming for constant product innovation and keeping ahead in competition.

“Content idea is the king. Whoever owns the idea, runs with it,” said Ashok Venkatramani, CEO, MCCS.

To drive innovation, it is also necessary to identify the trends rather than focus on extensive consumer research.

According to Raghu Cavale, vice-president and head (India Business), Infosys, “Be it in IT or auto, change is fast and product innovation has to be equally fast. Product companies can go in for co-creation along with consumers.”

Infosys said it was looking at rolling out in two years the Rs 700-crore project it bagged from the Union ministry of communications and IT to help India Post transform its banking and insurance operations. It will also help in technologically upgrading 150,000 post offices.

“We are expecting to roll out the project for India Post in 18-24 months. We will roll it out for 150,000 branches across 22 circles. It will change the way India Post operates at present,” Cavale told reporters.

Other speakers at the session included Nandakumar S., CEO, Perfint Healthcare, D.N. Mukerjea of Fortune India and Umang Bedi, MD (South Asia), Adobe Systems.