The Hindu : Karnataka News : `Innovation vital for growth'

Online edition of India's National Newspaper
Friday, Jun 17, 2005

Karnataka

Karnataka

`Innovation vital for growth'

Special Correspondent

BANGALORE: The State Government will set up an "innovation foundation" to promote grassroots innovation here, according to the Minister for Industries and Infrastructure Development, P.G.R. Sindhia.

Inaugurating an "Innovation Summit" organised by the Confederation of Indian Industry (CII) here on Thursday, Mr. Sindhia said innovation is essential for growth and the State Government will support any initiative that promotes innovation. The Government will take note of the recommendations of the summit while formulating policies with regard to innovation.

The State, he said, offers an environment that is conducive to the growth of industries across various sectors, such as manufacturing, research and development and information technology.

He mentioned the UNDP report that has listed Bangalore as the fourth most preferred destination for human resource availability.

While stating that innovation is essential for growth, he said that politicians and bureaucrats have to be educated on innovation.

The Director of the ISRO Satellite Centre, P.S. Goel, said innovation is not a matter of chance but a matter of choice. It is important to involve academic institutions and industry in the initiatives of government institutions like the ISRO to take the nation forward.

The Chairman of the Innovation Summit, Kris Gopalakrishnan, said organisations can compete effectively in today's global environment only with breakthrough ideas.

`Recognise diversities'

The aim of Indian industry should be to recognise diversities in the business context and the need to create products that addresses the local market.

The Chairman of the CII, Karnataka, Daljit Mirchandani, welcomed the gathering.

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