'Reverse Innovation' in India

GlobeTracker| On a recent tour of Asia, GE’s chairman Jeffrey Immelt noted a concept he labels “reverse innovation”, the incubation of new multinationals outside the developed world, who focus not on distributing developed world products into the Third World, but who instead focus on creating products designed for Third World people.

This time, Indian engineers are reinventing products to cut costs and reach the billions of people world-wide who live on less than $2 a day. via Wall Street Journal