Is it fair to use the term “Reverse Innovation” for the technology emanating from India & China, especially when these countries are emerging as technology super powers????
There was a time when the Innovation was considered to emanate from the rich countries like USA, Germany, & Britain and spread to the rest of the developed world and then when it became obsolete in the developed world, it used to slowly drip down to the developing world as new technology. This was considered the process and procedure for the better part of the 20th century, and was closer to the reality of the times also.
In India, the protectionist attitude and the populist policies were responsible for that, on account of the over dependence of the political parties on the industrialists for party funding, which allowed the corporates to mint money by selling outdated technologies and products to the people. Government also on its part, to protect the interest of Indian Business House, did not allow new technology into India except for defence, where also India availed the rupee payment option for the bulk of the imports from Soviet Union. More
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