India is a land full of opportunities, with plenty of resources and possibilities. No other country offers as many chances for growth. As market demand continues to rise, young graduates and entrepreneurs can achieve success if they understand what people need and create innovative products accordingly. However, making these modern products affordable is a challenge.

Encouraging Innovation
The government has introduced various schemes to support start-ups and bring their ideas to the global market. Our company is also taking steps to encourage innovation. Finding better solutions is key to starting more businesses. Energy-saving technologies, for example, are in high demand. To promote such innovations, we conduct competitions and reward students who come up with creative solutions to real-world problems.

The Importance of Research
For any company to grow, investing in research and development (R&D) is crucial. Businesses should not wait for government support but take the initiative themselves. As rules, public expectations, and technology keep changing, those who do not invest in R&D will struggle to keep up.

We dedicate ₹100 crore every year to R&D. In the consumer electronics industry, government regulations change every two years, requiring constant updates. To stay ahead, we have set up an innovation center with 200 researchers working on new technologies. This effort has helped us manufacture many motor components in India, supporting the 'Make in India' initiative.

--Promeet Ghosh, Managing Director & CEO, Crompton Greaves Consumer Electricals Ltd., Mumbai