It may be a coincidence that while ‘Business Today’ issue has published ‘India’s most innovative companies ‘, Business Week has special coverage of ‘The World’s Most Innovative Companies’. As very appropriately said, “the most innovative companies don’t do different things, they just do things differently. And that seems to make all the difference.”
‘Business Today’ list includes companies such as Deccan, Jet Airways, Mahindra&Mahindra, Tata Motors, Maruti Suzuki India, HDFC and ICICI Banks, Philips Electronics, Samsung India, ITC, Dabur, LG Electronics, Marico, Apollo Hospitals, Aravind Eye Care, Narayana Hrudayalaya, and SRL Ranbaxy, beside the IT trio of TCS, Infosys, and Wipro.
In today’s world, a country is known by its innovative power. India’s potential is being gradually recognized by the world. With all the problems and constraints from an obstructive system of democratic government of a complex alliance, Indian entrepreneurs have moved ahead, and Indian industry has proved its mettle.
Indian companies have found place in Business Week’s list of the world’s most innovative companies. As claimed by BW, ‘this year’s list of the world’s most innovative companies was decided by a respondent pool that was more global than ever’.
In the list of the 20 most innovative companies of Asian region, Tata group is at 4, and Reliance at 8. Apple, Google and Toyota Motors hold top three positions in all the regions.
In the list of the most innovative companies by industry,
· In Autos, Tata Group is at 3 with Toyota and GM at 1 and 2. Tata Group made a remarkable entry in passenger car market with Indica, andIndigo platform, its innovativeness made a mark with ACE, its mini-truck, but its launch of Nano in Auto Expo 2008 stirred the whole auto world.
· In Industrial and manufacturing, Tata Group is at 7 (Arcelor Mittal is at 5).
· In Retail, Reliance Industries is at 9.
· In Energy, Reliance Industries is at 6 and Suzlon Energy at 7.
There are many miles to go, but India is on right track. All the institutions of worth must join in this national endeavour to see that innovativeness and entrepreneurship become the main trait of the country. Can’t with all these achievements the politicians, particularly the leftists, take some lessons?
With some of the reforms such as one related to labour, disinvestments, and freeing some more sectors for FDI, the competition can make Indian enterprises more robust and innovative. Innovation today is not only the means of growth; it is also needed to survive. One is get over the myths to move fast aahead.
But let me end the entry with another successful innovation of India. IPL launched by Lalit Modi of BCCI is that product. Is there any doubt that after Kerry Packer’s successful bid to innovate day and night cricket matches of 50 over, IPL has brought in a product that may be the ultimate case of commercialization and globalization of cricket?