The Hindu Business Line : Software industry told to innovate or perish

Innovate or perish, and innovation should begin at the top management level, were some of the messages for the software industry by speakers at a panel discussion on "Building an Ecosystem for Product Innovation" organised by the National Association of Software and Services Companies (Nasscom).

Top management should drive new innovations, said Mr Deepak Ghaisas, CEO, Indian Operations and Chief Financial Officer, i-flex Solutions Ltd. India has a tremendous advantage of being an innovative country, he said.

According to Mr Ghaisas, a good network of people can come up with great ideas. Innovation could also be supply-driven, and companies could be forced to get into new ideas by their suppliers. Customers could also drive innovation demanding more and more from companies, he said.

Dr Ashok Jhunjhunwala, Professor, Tenet Group, IIT Madras, said innovation should be focussed on a strong market requirement, and this takes a little more time, he said.

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