India should concentrate on common sense innovation to become the center of science and education in the world. This is said at a meet called as New Horizons in Innovation’ and organized by the Confederation of Indian Industry (CII). According to the experts at the meet, we should concentrate to produce our own products.



Owning licenses of foreign technologies will create nothing for India’s excellence. Being a license partner for multinational companies will not capitulate any results in terms of knowledge transfer and long-term sustainability for India.



India Inc. now needs growth through innovation. According to Lord Bhattacharyya of Warwick University has said that Knowledge is the fourth dimension of industry, the other three are land, labor and capital. The more investment is needed in research and development that will result in growth of Human Development Index.



He said further that in 2005, India had registered 650 patents; China registered 2,500 patents while US and Europe had registered 45,000 and 25,000 patents. This is the difference of knowledge innovation.



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