{"id":8721,"date":"2010-02-02T12:00:00","date_gmt":"2010-02-02T12:00:00","guid":{"rendered":"https:\/\/www.hinduismtoday.com\/hpi\/2010\/02\/02\/indovation-india-innovation\/"},"modified":"2010-02-02T12:00:00","modified_gmt":"2010-02-02T12:00:00","slug":"indovation-india-innovation","status":"publish","type":"post","link":"https:\/\/www.hinduismtoday.com\/hpi\/2010\/02\/02\/indovation-india-innovation\/","title":{"rendered":"Indovation = India + Innovation"},"content":{"rendered":"<p>Source: <a href=\"http:\/\/schott.blogs.nytimes.com\/2010\/02\/01\/indovation-the-fortune-at-the-bottom-of-the-pyramid\/\">schott.blogs.nytimes.com<\/a><\/p>\n<p>NEW YORK, USA, February 1, 2010: Innovation tailored to the demands and incomes of consumers in India is the new big trend in business. Global companies are now bending over backwards to innovate for India &#8211; there&#8217;s even a new term for it, &#8220;Indovation&#8221; &#8211; and the key theme is to skin prices down till they fit into the Indian hip pocket, while creating a product, often from scratch, that fits Indian needs like a glove.<\/p>\n<p>Reporting from New Delhi for The Financial Times, James Lamont commented on the efforts of designers to produce products which appeal to India&#8217;s vast and often poor domestic market.<\/p>\n<p>Areas where Indovations are springing up include solar power, mobile telephony, medical equipment and toilet technology. Indian engineers have also invented a battery-powered ultra-low cost fridge resistant to power cuts, an automatic teller cash machine for rural areas and even a flour mill powered by scooter.<br \/>Lamont explained, &#8220;In a country where the bulk of the population lives in the countryside and where an estimated 300m people live on a $1 a day, a common factor is a low spend and price sensitivity.&#8221;<\/p>\n<p>The title of C.K. Prahalad&#8217;s book &#8220;The Fortune at the Bottom of the Pyramid&#8221; has entered the lexicon of modern India as a business mantra. One of the book&#8217;s case studies examines Unilever&#8217;s successful pricing and packaging of fast-moving consumer goods in small, affordable units. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: schott.blogs.nytimes.com NEW YORK, USA, February 1, 2010: Innovation tailored to the demands and incomes of consumers in India is,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8721","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/posts\/8721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/comments?post=8721"}],"version-history":[{"count":0,"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/posts\/8721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/media?parent=8721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/categories?post=8721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hinduismtoday.com\/hpi\/wp-json\/wp\/v2\/tags?post=8721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}