Indovation: Innovation from India
"Navi Radjou, Executive Director of the Centre for Indian and Global Business at the University of Cambridge... is credited with creating the term 'indovation,' which is an innovation developed in India. What makes indovation unique, however, is not just its geographic identity, but that scale and scope are inherent components of the concept. The point is to create more at less cost for more people. A fine example of indovation is the Tata Nano, a low-cost car built by the Indian company Tata Motors. It is currently the cheapest car in the world with a sticker price of US $2000.
Sources:Intellecap Dec. 2010 pgs. 7-8:
For more information of the downside to increased productivity:
William Greider, One World Ready or Not