India all set to become an innovation hub: Mashelkar
Wednesday, 14 April 2004, 19:30 IST
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NEW DELHI: With a huge "talent pool" available at a low cost, the country is on its way to becoming an "innovation hub" which provides research and development platform to global giants, Dr R A Mashelkar, Director General, Council of Scientific and Industrial Research said here on Tuesday. "India is becoming a global research and development hub especially for the companies from the West. Over one hundred companies around the world have set up their research and development centres in the country during the last five years," he said delivering the convocation address at the Indian Institute of Foreign Trade here. The demographic shift in the western world favours a country like India. With its relatively favourable demographic profile of a large proportion of working and talented young people, India can become a global innovation hub, he said. "The country with its large proportion of working and talented young people cannot only be a global innovation hub from which outsourcing of innovation could be done, but a hub in which Research and Development (R&D) based innovation centres would be set up by the western companies," he said.
Source: IANS
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