Why Frugal Innovation Isn’t Cheap

“Jugaad” innovation – a quick fix – is not synonymous with frugal innovation. Understanding the difference is key to sustainability and scalability of any attempt to move a company or industry forward.

Balram Bhargava, Professor of Cardiology, All India Institute of Medical Science and Executive Director, Stanford India Biodesign Centre, spoke at “Caring for Millions,” a conference on Indian healthcare sponsored by the India Business Initiative at the Chazen Institute of International Business, Columbia Business School.