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Home arrow News arrow Business News arrow "Industry and Academia must seek fiscal incentives for design innovation"
"Industry and Academia must seek fiscal incentives for design innovation" Print E-mail
Written by Arjun   
Monday, 24 August 2009
Bangalore : Both industry and academia must jointly seek adequate fiscal incentives from the Government for encouraging industry's investment in design innovation and new product development, pointed out Lord Kumar Bhattacharyya, Director and Founder, Warwick Manufacturing Group, UK at the CEOs Roundtable on Transforming India into Manufacturing Centre of Excellence through Global Product Development organised by CII.

Prof Lord Bhattacharyya said that owing to lack of design and innovation investments by Indian manufacturing sector, there are very few globally known products of Indian origin.

"Driving growth in exports requires design innovation that will create outstanding products," said Prof Bhattacharyya.

"When we come to manufacturing - manufacturing will thrive and remain in a particular country only if the design and the control also remains in the country," stated Venu Srinivasan, President, Confederation of Indian Industry. He said that India should utilise its demographic dividend to create a competitive advantage for manufacturing sector.

"One of the comments, the last Japanese ambassador here - Mr Enoki said was that we have lost a lot of our skills in India. Lot of human skills - there are very few left in textiles, woodworking and marble carving etc. 'No respect for craftsmanship', he was saying was a big difference in what he sees in Japan and India, and why he gets worried - maybe India may not go that forward in Innovation and product development. The respect in society he gets for his work is what drives craftsmanship in Japan and is also what drives a lot of the product innovation, technology and the rise of Japan," said Vikram Kirloskar, Vice Chairman, Toyota Kirloskar Motors Pvt Ltd.

"The major issue in front of CII, as an industry representative body, in the coming five year horizon would be the creation of 50 billion jobs at least in manufacturing. Some how we've got a post-industrial mindset. We think that it (employment) will come from services. But service has to be to people who have got money and people have to get money by ultimately manufacturing and exporting. The Chinese trade surplus in 200 billion US$ and our trade deficit is 90 billion US$. So ultimately you cannot support a service and have only BPO and IT companies as the basis of the economy," explained Mr. Venu Srinivasan.

Mr. Srinivasan emphasised the importance of vocational training to produce skilled workforce. Given our excellent human resource capabilities, we need to examine the opportunities for us in amalgamating manufacturing talents with India’s considerable talents in design, science and technology, innovation, and engineering.

"The manufacturing environment will require attention to the needs of research and development, linkages between academic institutions and industry, fostering a climate of innovation within all classes of enterprises from large to small, and meeting the human capital needs through educational infrastructure," said Sudhakar Rao,  Chief Secretary, Govt of Karnataka.

Venu Srinivasan also expressed his willingness to lead a mission on removing bottlenecks in manufacturing after his term as CII President and said that the job required full-time attention. He said that Indian industry has welcomed the weighted tax deductions for R&D for manufacturing companies across all sectors by the Government of India, which will go a long way in raising R&D spending by the Industry.

Vikram Kirloskar, Vice Chairman, Toyota Kirloskar Motors Pvt Ltd, in his capacity as chairman, CII National Committee on Design, said that CII has started working closely with the government in developing the national design policy and is now partnering in implementing it.

"The objectives of the committee have been to create awareness on the need for design as a business strategy and to build relevant networks and connectivity with experts to foster design development through international cooperation and also to push domestic capacity building in design," he added.

Last Updated ( Monday, 24 August 2009 )
 
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