Mark Fidelman recently published an article at Seeking Alpha that does a pretty thorough job in analyzing one of India’s biggest challenges, the innovation gap.
India produces some of the brightest minds in technology, science and medicine yet has not demonstrated any truly large scale and breakthrough innovations in those fields. The giant India corporations of Reliance, Tata (TTM), Wipro (WIT), and Infosys (INFY) have huge revenues but produce very little innovative intellectual property [IIP]. Yet, India has critical “Country Development” issues that can only be addressed through the immediate and creative application of technology, which in turn requires massive technology innovations in a variety of fields.
It’s a lengthy piece, but worth reading.
UPDATE: In keeping with the general theme, Ramesh Menon recently published another worthwhile article – this one on the talent crunch in India. You can read that here. Linked via Atanu Dey’s post which also brings up a lot of valid points.