India, China powerhouses of innovation

Leading IT analyst Gartner on Monday said organisations operating in "constrained environments" in emerging nations such as India and China are innovating at a faster rate than ever before.
- Gartner predicts that mobile phones will outnumber PCs by a factor of 15:1 in developing markets by 2010.
- Thirdly, emerging countries such as China and India have the ambition to lead the IT industry in the global market, and innovation is their only way to compete globally", it said.
- Another example, according to Gartner, is mobile banking. SMS money transfer was first introduced in emerging markets because it was not otherwise cost effective to reach people in remote areas.
- India also appears on the way to becoming an IT services powerhouse with the help of established leading Indian IT companies such as Wipro, Infosys and Tata Consulting Services.
- IT services account for around half of India's services exports and the IT services market is growing at more than 30 per cent per year," he said.

- According to Shen, "85 per cent of the world's population reside in emerging markets. Although today their populations have lower purchasing power with many living under the $1 poverty line, the aggregation of their purchasing power in the next decade could pass that of developed markets.

-In fact, the populations of China and India are moving from below poverty line, creating a whole new consumer population of equivalent size to the European middle-class in purchasing power parity terms