Friday, November 11 2005 20:04 Hrs (IST) - World Time -

Bangalore: In view of the changing nature of innovation and technology all over the world, it is necessary for us to "restructure our knowledge institutions which are indispensable for the growth of the country", Sam Pitroda, Chairman C-SAM Inc. said today (November 11, 2005).

"We should focus on changing nature of innovation and technology and try to create a business model from these changes that will revolutionise the Indian corporate structure and society", he said in a video conference during a CII Quality Summit on "Building Global Competitiveness for Inclusive and Sustained Growth" here.

Reflecting that Indian corporates were relying less on local innovation and engaged in copying and learning from others, he reiterated the importance "creating more knowledge to increase the value addition".

For a country like India, Pitroda who is also the Chairman of Indian National Knowledge Commission said, the key drivers would be the knowledge institutions.

These institutions will have to focus on five key elements; the concept of knowledge, creation of knowledge, access to knowledge, application of knowledge and governance of knowledge, he said.

Highlighting the need to invest more on education, technology and undertanding new innovations, he called upon the corporate sector to "recognise the role of young entrepreneurs, new innovations and latest trends and break the age-old hierarchy system".

Corporate India should lead the changes in society and then prevail on the government to change, Pitroda said, adding "however this change should be effected from rural India".

"We need to make rural India the back office of urban India which inturn has become the back office of developed countries", he said.

Jobs need to be created in rural India, "IT, connectivity and broadband should be reach the rural regions", he asserted.

Local talent and capability must be encouraged especially in production which will enable us to have a "strong production and manufacturing base", Pitroda said responding to a question on building defence capabilities.

Technological innovation can be commercialised by reducing cost, adopting a different business model and improving access, Pitroda said.

Giving the corporate world a pat on the back, Subodh Bhargava, Chairman Videsh Sanchar Nigam Limited said "Indian industry's ability to effectively merge with change is one of its hallmarks which has enabled it to carve a niche in the global scene".

The world today is looking towards India not only for IT and ITES but also manufacturing, he said.

There is tremendous confidence in Indian corporate leadership because of "its strategies despite government", Bhargava said.

The Indian industry has "stopped whining about government support and moved forward taking the limitations of Indian system in its stride", he said.