The Fifth C K Prahalad Memorial Lecture 2016 was organized by CII (ER) at Suresh Neotia Centre of Excellence on 23rd August, 2016. Mr.Pinaki Chakraborty joined the lecture session on behalf of NTR Pvt. Ltd. Dr.Naushad Forbes, President, CII delivered his lecture on “Growth through Innovation”. Mr. Harshavardhan Neotia, Chairman, CII Suresh Neotia Centre of Excellence for Leadership pointed out that in today’s competitive world the business is to innovate or to perish. The entrepreneurs should have the courage to take risks.
Dr. Forbes in his lecture told about the growth of manufacturing sector in our country. He mentioned that the share of manufacturing industry in GDP has not changed for years while the share of service sector has increased and the share of agricultural sector has gone down. He pointed out that India is building many Indian Multi Nationals but that has not been reflected in the growth of manufacturing sector as a whole. Hence, he pointed out the importance of innovation in manufacturing business for its sustenance. He very lucidly explained the position of India in Innovation sector as compared with the developed as well as developing countries which proved to be very dismal. He very clearly pointed out that the expenses done in India in private sector , public sector and in University level for Innovation are far below international figure. He pointed out that the share of R&D against GDP in India is far below the international one. He urged the corporate sector to increase their share in R&D. He urged the entrepreneurs to focus on structural change, to aspire for international presence, to get their technology tested in international market.
After the deliberation, Dr. Forbes answered to a lot of questions which came from the floor. The session was very valuable and enriching.
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