The Hindu : Prahlad calls for innovation

Online edition of India's National Newspaper
Wednesday, Apr 30, 2003

Business

Business

Prahlad calls for innovation

By Our Special Correspondent

NEW DELHI APRIL 29. The Management guru, C. K. Prahlad, has called for annual growth of 10 per cent in this country in order to create 10 to 15 million new jobs every year. Without such level of growth, he warned India would remain far behind China.

Addressing the annual session of the Confederation of Indian Industry (CII), on Monday he urged Indian industry to evolve a new paradigm of competitiveness based on entrepreneurship, innovation, leveraging existing resources, creating new markets and global orientation. Instead of focusing on problem areas such as resource shortages, poor infrastructure, inflexible labour laws, high cost of power and import duties and blaming them for India's lack of competitiveness, he said companies must look inward to innovate and compete at the global level.

Mr. Prahlad, a professor of corporate strategy on the Michigan University Business School, said a competitive India Inc. based on entrepreneurship and innovation was needed to meet the national priorities of achieving ten per cent annual growth.

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