Indians see more opportunities for innovation

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The Global Innovation Barometer for 2018 shows that 67% of Indian business executives think India has an innovation-conducive environment, up from just 28% in 2014

Nandita Mathur

The GE Global Innovation Barometer (GIB) for 2018 reveals growing confidence from business leaders around the world. The report, titled From Chaos to Confidence: Emerging Players, Emerging Technologies, Emerging Challenges, looks at how business leaders perceive the barriers to and opportunities for innovation in a complex global environment.

The survey shows that countries that traditionally dominated global innovation leadership,such as the US and Germany, are stalling. Asia and emerging markets are gaining confidence, viewing themselves as more innovative than they did in 2014.

The India story

India upholds the global narrative as the GIB for 2018 shows that 67% of Indian business executives say India has an innovation-conducive environment, up from just 28% in 2014.

New actors driving innovation

In India, multinational companies are perceived as driving innovation among business executives (31%) but are losing momentum. Only government and state-owned enterprises have seen an increase since 2014. Entrepreneurs and start-ups have also seen a decrease since 2014.

Regulatory environment

Business leaders in India feel regulations around privacy and data protection are stifling innovation less now than two years ago. A majority think the government is not able to regulate innovation.

Best way to innovate

Additionally, Indian executives see less value in protecting the core business compared with 2016 and continue to favour a more cautious approach to innovation.

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