Confederation of Indian Industry - CII services

Innovation is about changing paradigms, creating new ideas, it’s a process which inspires change and creates value and “Innovation Ecosystem” is the principle catalyst for fostering rapid innovation and the translation of these innovations into large scale, successful businesses. India faces unique challenges in the field of Education, Infrastructure, water, energy and many more and hence the western model of Innovation Ecosystem is not suitable for it.

Manufacturing Industry in India has gone through various phases of development over the period of time. Since independence in 1947, the domestic manufacturing sector has traveled from building the industrial foundation in 1950’s and early 1960’s, to the license–permit Raj between 1965 to 1980. Then it underwent a phase of liberalization of 1990’s and finally to the present  phase of global competitiveness. The Indian Manufacturing sector currently contributes 16-17% to GDP and gives employment to around 12% (2014) of the country’s workforce. Various studies have estimated that every job created in manufacturing has a multiplier effect in creating 2–3 jobs in the services sector.