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5. Becoming a Product Nation is Key to India's Growth: ISB Professor

Becoming a Product Nation is Key to India's Growth: ISB Professor

By Team Marcomm |Sep 06, 2024

ISB in the Media

In a recent article for The Hindu Business Line, Professor Rajendra Srivastava from the Indian School of Business, along with Vipin Sondhi, explored the importance of India becoming a product nation. They discuss how a focus on product development can boost the export of high-value goods, foster innovation, and ensure the benefits of value-addition remain with Indian companies.

The article references the "smiling curve," a concept proposed by Stan Shih, founder of Acer Inc., which illustrates how the greatest value-added comes from the two ends of the value chain – namely, research, branding, and distribution – rather than from the manufacturing process itself. Srivastava and Sondhi argue that to move up the value chain, India must shift towards a product-based economy that embraces research and development, design thinking, and global branding.

"A product-based economy can drive sustainable economic growth, create jobs, reduce the over-reliance on services, and create a culture of R&D pushing us to the forefront of innovation, with products designed in India for the world," Srivastava and Sondhi note.

Read the full article here

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