Innovation in India

Today's New York Times has a good article entitled In India, Anxiety Over the Slow Pace of Innovation. While the piece talks about the barriers India faces in becoming an "innovation powerhouse," it also ends with a positive note:

Until early this decade, the Indian market was too small and isolated to make it very lucrative for businesses to develop products here, so most technology companies focused on selling services to the West, said Girish S. Paranjpe, joint chief executive of Wipro's information technology business. "That will change dramatically because the Indian market has become bigger," he said.

So American companies need to run even that much faster -- because everyone else is following the same strategy of innovation.