Frugal Innovation

This chapter highlights the creative use of frugal innovation by South Asian firms in their attempts to stay competitive in an intensely global environment. We discuss how globalization has affected South Asia, the ways in which exemplary South Asian firms have responded to contradictory global and local challenges, and what global companies can learn from the experience of South Asian firms. Some of the lessons for South Asian firms include developing partnerships regionally and internationally and for foreign firms to venture into South Asian markets for business prospects with an open mind, in order to engage in learning so as to better address changing circumstances not only in South Asian markets but also in their respective home markets globally