Navi Radjou and Jaideep Prabhu, coauthors of the book Frugal Innovation: How To Do Better With Less, explain how frugal innovation -- a practice pioneered in India -- is now being adopted rapidly in the US and Europe.
Western companies are now emerging as global leaders in frugal innovation. Radjou and Prabhu issue a wake-up call to Indian companies -- and policy makers -- by urging them to shake up complacency and adopt new mindsets, approaches, and technologies to "do more -- and better -- with less". Ultimately, India has to learn to "co-create" frugal solutions for global markets by integrating its frugal ingenuity with advanced R&D capabilities availability in the West. This presentation took place during a conference organized by the Institute for Competitiveness, India on April 6, 2015 in Mumbai.