INDIA can innovate. That's the country's strength and it is gaining a reputation for that in international markets.
The Tata Nano is a perfect example. Not many believed a car could be built for Rs1 lakh (S$2,579) but the Tata group proved that with innovative methods it is possible.
In short, India and innovation go hand in hand and it has given rise to a new term: Indovation.
In fact, it is one of the themes of the India Symposium being held as part of The India Show from Jan 14 to 16 at the Suntec International Convention and Exhibition Centre, where the Nano will be on display.
Tata Technologies CEO and MD Patrick McGoldrick told the media in India: "We will be exhibiting 'Indian Innovation' in the form of Tata Nano LX, a top range model."
The symposium at The India Show, titled Indovations - India's Ideas for the World, features an exclusive session on fostering innovation in India's manufacturing sector.
It will be addressed by key speakers from the Indian manufacturing sector including Confederation of Indian Industry (CII) vice president and Tata Steel vice chairman B. Muthuraman, Nicco Corporation chairman Rajive Kaul, Forbes Marshall director Farhad Forbes and Hi-Tech Gears chairman and managing director Deep Kapuria.
India is among the world's top 10 in industrial production and is a global manufacturing hub for many industries like automobiles and pharmaceuticals. Its industrial sector registered double digit growth during 2010.
The India Show, organised by CII along with India's ministry of commerce and industry and the high commission of India in Singapore, will also see the Singapore International Foundation (SIF) and CII launch the Young Business Ambassadors (YBA) programme for Singapore and Mumbai.
The YBA, a flagship SIF programme established in 2000, enables young professionals aged 21 to 35 from Singapore and partner cities to spend up to 12 weeks immersed in the all-round experience of working and living in the respective cities.
The Singapore-India YBA programme will start in July, where four Singaporeans and four Indian nationals will be appointed to work in the cities of Mumbai and Singapore respectively.
The overseas exposure offers young professionals - future corporate leaders - the opportunity to develop global perspectives, share work experience, build international business links and gain an understanding of foreign business environments.