Friday, October 18, 2013

Unlocking India’s potential to build a more sustainable tomorrow



Unlocking India’s potential to build a more sustainable tomorrow

CII-ITC CESD releases new report on ‘How India Innovates: The promise of sustainable and inclusive innovation.’ At the 8th Sustainability Solutions Summit

Some key findings of the report:
•	Most companies in India are not engaged in ‘Sustainable and Inclusive Innovations (SI2)’ and they do not yet identify with sustainable development or green growth
•	Companies revealed that a focus on existing products and short-term financial performance remain the key internal barriers
•	Most companies in India innovate with incremental (71%) or radical (79%) solutions. In other words, innovations of Indian companies are incremental improvements or changes over existing products or business models that also allow for differentiation
•	Transformative innovations (54%) are increasingly important to Indian companies
•	For more than 50% respondents, Business Model Innovation (BMI) is ‘very important’
•	67% companies engage in BMI to exploit new markets
NEW DELHI, OCTOBER 15, 2013: The CII-ITC’s 8th Sustainability Summit held in New Delhi saw the release of a new report on ‘How India Innovates: The promise of sustainable and inclusive innovation.’ As economic growth rates go down and global climate temperatures go up, innovation has become nothing short of a necessity. India, too, has declared 2010-2020 as the Decade of Innovation.

Under the framework of Indo-German bilateral cooperation the Umbrella Programme for the Promotion of Micro, Small and Medium Enterprises (MSME) funded by the German Ministry of Economic Cooperation and Development (BMZ), GIZ India has partnered with CII-ITC-CESD to strengthen sustainable and inclusive innovations and to support the dissemination of knowledge and the scaling up of successful SI2.

As part of this partnership GIZ and CII-ITC-CESD have conducted this study with the objective to provide the innovation eco-system with information on how business in India innovates and the promise it sees in Sustainable & Inclusive Innovation.

According to the report, 79% companies in India innovate with radical solutions while 71% innovate with incremental or radical solutions. Companies have also identified exploiting green growth opportunities and reducing environmental impacts as other important factors to innovate. However, the bottom-of-pyramid market is still not an important driver for companies to innovate.

According to Ms. Seema Arora, Executive Director, CII-ITC Centre of Excellence for Sustainable Development, awareness on sustainability issues has come a long way in the 30 years since the Brundtland Commission, with leading companies taking proactive steps towards building a more secure, sustainable and equitable Innovation factors that are high on companies’ agenda include:
•	Reducing costs per unit produced or provided (77%)
•	Increasing range of goods or services (77%)
•	Increasing value added (73%)
Engagement of companies in innovation related activities:
•	Internal R&D (96%); Market introduction (89%)
Measures taken by companies to focus their innovation efforts on the customer:
•	Designing different products for different markets (54%); Involving customers in product testing (54%); Analyzing customer data for trends (54%)

future. She adds, “Regardless of whether it is called climate change, responsible business or CSR; the message today is clear – sustainable business is here to stay and industry must change the way it operates.”
Sharing her thoughts on the event, Ms Arora, states, “The Centre is pivotal in spearheading the sustainability agenda in the country in that it was created by the industry itself. And the Summit is the realisation of the fact that by bringing civil society, government and industry together on one platform, we can truly succeed in co-creating a more sustainable India.”
The Prime Minister’s Office set up the National Innovation Council with a mandate to substantially enhance the innovation ecosystem in India. The Council has developed a roadmap that would, among other things, create State Innovation Councils and innovation clusters. CII is a member of the National Innovation Council and is helping set up innovation clusters in a couple of sectors.

For further information on the Summit agenda and key speakers, please visit:

About CII-ITC Centre of Excellence for Sustainable Development

A pioneering effort by CII, the Centre works to create and sustain an environment conducive to the growth of business, partnering business and government alike through training, advisory and consultative services. It is the fountainhead of transformative and inclusive solutions to promote sustainability, which nurtures clients to compete, expand opportunity and excel in today’s dynamic business environments. The Centre enables businesses to become sustainable, and channels the potential of Indian industry to power the country’s agenda for inclusive growth and sustainable development

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