Local innovation: the key to globalisation

Abstract

The round table discussion draws the panellists to weigh in on how multinational enterprises from developed countries are innovating in and for emerging markets, the challenges faced, and lessons learnt. The key takeaways are that MNEs are increasingly innovating for the Indian market, alongside their contribution to global products. They are doing so by developing close relationships with field facing organisations, co-creating with customers, empowering engineers, and taking a clean slate approach to product development. This approach has given them dividends not only in the local market but also in the global market.