Members here are mixing up things. Some members are talking about innovation of new products by India IT sector. Some members are talking about innovation by India companies. As this thread is about innovation in Information and technology sector by India, I will stick to that.
Before giving out some example of innovations in Indian IT sector, I want to give some facts about india IT sector.
1.Indian IT sector starts its real growth from 1995 onwards. So in that case our IT industry in just 15 years old. Whereas, IT industry of US, EU are more than 40 years old.
2.For investing more money into R & D a company must have a good balance sheet. India stated economic liberalization in 1991. So our companies used to face many hurdles earlier.
3.If we talk about 3 top India IT companies today (i.e. TCS, Infosys and Wipro.), they were nowhere in the picture in 1990. But today the headcount of these 3 companies are more than 3,50,000. They have a great balance sheet and now they are investing in R & D.
Now let me show you some innovations made in India. It may be done by a foreign company or an Indian company. But Indians are part of these innovations.
Microsoft India Development Center
I do not know how many of you have heard about Polaris.
MSIDC has contributed to the filing of 220 patents by Microsoft Corp in the last four years and also received the Top Innovator Award from Dataquest in 2006.
This is an Indian company founded in 1993. If you want to know about their innovation in banking and financial software products, do visit the below given site. After opening the site go to the Products, where you can find the products they are offering. Polaris began its journey over 25 years ago when it partnered with Citibank to create India's first ATM system. In 1993, Polaris was recognized by the Smithsonian Institute for creating the FIRST Banking solution on distributed architecture.
Have any member heard about Finacle??
This is a product of Infosys, which provides banking and financial solutions. Finacle is the universal banking solution of choice of Tier I and Tier II banks and large regional banks across the world. Leading universal, retail and corporate banks worldwide leverage the power of Finacle to transform their business. Finacle customers are spread across 65 countries across the world and include names such as ABN Amro Bank, ANZ Bank, Arab National Bank, BBVA, Credit Suisse, DBS Bank, Emirates Bank, ICICI Bank, Mizuho Financial Group, and Zurich Financial Services.
Finacle – Infosys
If you are unaware about certain things, it does not mean it do not exist!!!