WIPO Head: India Will Be Major Hub of Innovation

In an interview with the Economic Times, World Intellectual Property Organization director general Francis Gurry discussed issues of Intellectual Property and Innovation with respect to India.

Francis Gurry

Francis Gurry

Snippets of Gurry’s opinions during the conversation:

There has been a shift in innovation in the last 20 years, from a total domination by North America and Europe, to Asia (in terms of magnitude) in countries including Japan, China, Korea, India and others.

India is a leader in demand-driven and frugal innovation — taking innovation elsewhere and adapting it to local conditions, so you are able to address a problem at a lower cost.

India is compliant with its international obligations. It has not been involved in any dispute resolution process for an intellectual property. The challenge for India is the vastness of the country and the unevenness that exists. It is typical of any big country.

India is going to be a major hub of innovation and IP. You have the human resources, the educational system, high number of scientists and engineers and a vibrant rate of economic growth, which is producing new areas of opportunity.

It is exciting working with the authorities on the state index for innovation in India. It is a friendly competition between the states in the field of innovation. The moment you leave India’s borders the competition is enormous.

Not the least area of concern is the displacement of employment by robotics, artificial intelligence. That means we have to address this starting with the education system. You cannot stop innovation.

Employment is an integral part of human dignity. The massive elimination of work possibilities will be catastrophic, but I do not think that is happening. A more worrying phenomenon is the heavy concentration of wealth that occurs quite rapidly as a consequence of innovation in certain areas.

March 8, 2017   No Comments

India Best Country for Wall Street Says Forbes

New York-based Wisdom Tree, that pioneered the concept of fundamentally weighted Exchange Traded Funds (ETFs) and active ETFs, says  that its India Earnings (EPI) Fund is up 12.8% year-to-date and is ahead of China, Indonesia, Thailand, Vietnam, South Korea and Japan.

Gaurav Sinha, strategist for Wisdom Tree said, “If you look across the countries the IMF tracks worldwide, how many can you name that are growing over 7%? Iraq, Myanmar and India, and India is the only large economy that has those numbers and that you can buy in the equity markets.”

Indian Currency

Forbes reports: “Prime Minister Modi continues his plans to cut red tape, root out corruption, upgrade infrastructure, improve the fiscal position. No trade drama. No political crisis. No wars and rumors of wars. Reliable central bank. Stable government. A little expensive, but these days, who cares?”

India’s recent demonetization caused a temporary economic slowdown; however, recent company visits confirm that the economy is beginning to normalize.  Gerardo Zamorano, director of the investment group for Brandes in San Diego says, “From my perspective, that policy [demonitization] did not change the long term outlook on India that much. If you’re the owner of a car dealer or a restaurant business, this might affect you next week or so, but not for a decade. That’s how we think of India. It’s a long term investment for Brandes.”

Robin Parbrook, head of Asia ex-Japan equities at Schroders, says India remains the best domestic story in Asia at the moment. “The base is low in India, so the building of roads, provision of mobile telecom networks, formal banking to the masses, and rooting out of middlemen and corruption can all make a big difference, ” he feels.

 

 

 

March 5, 2017   No Comments

Japanese Sportswear Brand Asics Expands Operations in India

Japanese sportswear brand Asics will begin to source in India so that it can apply for FDI and benefit from lower duties.

In a discussion with BusinessLine, Rajat Khurana, Director, Asics India, said, “While we are an imported brand, we should soon start with 10-15 per cent of local footwear production in the next two to three years. Applying for FDI requires us to have 30 per cent local sourcing and some of our competitors like Nike have already met these norms to start their own stores in the country. We have our subsidiary since 2015 and expect sales to triple by 2017 as the market is growing and we expect to get profitable with economies of scale.”

The company wants to change its position in India from a sportswear to a lifestyle brand. “India is changing and it is the lifestyle segment which is growing at nearly 20 per cent,” added Khurana. Currently, Asics has 14 monobrand stores and expects to add another 12 this year.

Asics Shoes

To build its brand in the country, Asics has taken up the role of official sponsor of the Mumbai Marathon for three years.

 

January 9, 2017   No Comments

Panasonic To Establish an India R&D Center

Panasonic Corporation, the Japanese manufacturer of consumer electronics & home appliances, will set up an India R&D center consisting of two technical divisions – a design division of appliances (focusing on India) and an offshore development division.

The design division will focus on product development processes for India and its neighboring countries, while its offshore development project will be in partnership with Tata Elxsi, at Bangalore. Through this division, it will develop technologies for artificial intelligence and robotics applicable to appliance products not only for India, but also for Japan and global markets, reports Business Standard.

Panasonic Corporation, R&D

“Globally, India has been identified as one of the strategic regions for growth. The prospering economy, increasing buying power and a conducive environment for manufacturing has transformed India into a growth magnet for the world, said Tetsuro Homma, president of appliance company and senior managing director, Panasonic Corporation.

 

December 26, 2016   No Comments

Horiba Opens a New Technical Center in Pune, India

Japan’s HORIBA Group that deals in advanced engineering, research and product development, has further expanded its worldwide automotive engineering and testing capabilities with the opening of a new  India Technical Center in Pune, a city 90 miles west of Mumbai in India.

Air pollution and safety have become key concerns for leading automobile manufacturers in India, and the country has introduced the Bharat Stages emissions standards. Together with Horiba’s Portable Emissions Measurement System and Horiba MIRA’s engineering capabilities, the new facility will provide vehicle manufacturers with test services to support them to meet Bharat Stage VI compliance, reports Autocar Professional.

Horiba's Tedhnical Center at Pune, India

Declan Allen, chief operating officer at Horiba MIRA, said, “Growing our global operation is a key part of our long-term strategy, and we’re incredibly pleased to open our new facility in Pune. The site presents an exceptional platform for us to deliver a broader portfolio of test and development capabilities in support of our key customers in India.”

December 26, 2016   No Comments