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Profit from Good DesignHow much do Indian companies invest in product design either to improve profits and performance or reduce manufacturing costs? Not much. A meagre one to 1.5 per cent of their turnover is spent on product development.
According to Darlie O Koshy, executive director, National Institute of Design (NID), design is hardly viewed as an engine of economic growth by domestic companies.
“Indian companies need to invest in design. We lag behind Europe, Korea and Japan as far as design innovation is concerned,” he says. In the same breath Koshy adds that foreign companies are increasingly seeking services of Indian designers.
The link between design and business performance will be highlighted at the fourth CII-NID design summit titled “Envisioning Design in Business Strategy” being organised in New Delhi on December 8 and 9. The summit will focus on sectors like automobiles, consumer durables and lifestyle.
Apart from designers, the event will be attended by corporate head honchos such as Jamshyd N Godrej, MD, Godrej & Boyce Ltd, Bhaskar Bhat, MD, Titan Industries, Jagdish Khattar, MD, Maruti Udyog and Sanjeev Sharma, MD, Nokia Ltd.
While design may be low priority for Indian companies, a recent report prepared by NID’s product designer Sridhar Ryalie suggests that about 10 to 15 per cent of the Indian design companie
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