Less is more: Frugal innovations as growth opportunities in India
Companies mostly compete for technological progress. The costumer, however, does not always demand the most technologically complex product. This applies all the more to emerging countries like India.
Enlarge image Deputy Chief of Mission Dr. Jasper Wieck (© DWIH)
The conference ‘Affordable Excellence: How frugal innovations can turn into an engine for growth in India and abroad’, which the German Embassy hosted in collaboration with the German House of Research and Innovation and the Indo-German Chamber of Commerce, discussed the question of how companies should develop their products, so that they comply with the actual market needs.
Dr. Rajnish Tiwari, Centre of Frugal Innovations, Technical University Hamburg, during his presentation
“India looks back at a long history of frugal innovations. The invention of the Zero, for example, was simple, cost-effective and extremely successful”, said Dr. Jasper Wieck, Deputy Chief of Missions of the German Embassy, as he introduced the topic. Enlarge image Björn Grözinger, Economics Department, German Embassy (© DWIH) In the additional presentations Dr. Stephan Buse and Dr. Rajnish Tiwari from the Centre of Frugal Innovations of the Technical University, Hamburg, gave an account of their knowledge from Research and Industry. In order to be successful in volume segments, simple, robust and cost-effective products are demanded. But this should not come at the expense of the quality, said the scientists.
Prof Aravind Chinchure of Symbiosis University Pune as well as Dr. Shyam Vasudeva Rao, Founder and Director of Forus Health Pvt. Ltd. gave insights into the Indian market on the basis of concrete examples for frugal innovations.
The following panel discussion, in which the guests from the business and science community actively took part, presented in detail, that companies and their employees must be more open towards frugal innovations Enlarge image Prof. Aravind Chinchure, Symbiosis University, Pune (© DWIH) .
A Science Circle Lecture was organised at the German House on November 29 on the same topic and was aimed towards students and researchers dealing with this topic.