Innovation is a key priority at companies worldwide. However, the old formula that has sustained innovation for decades in the West – expensive R&D projects and highly structured innovation processes – are ill-equipped for these challenging times. The West has much to learn from emerging markets like India, China, Africa, and Brazil where a new approach to frugal and flexible innovation called "Jugaad" has been embraced to drive inclusive and sustainable growth.

Jugaad is a Hindi word meaning an innovative fix; an improvised solution born from ingenuity and resourcefulness. In this talk, Navi will show how jugaad is leading to dramatic growth in emerging markets and how Western companies can adopt jugaad innovation to succeed in our hypercompetitive world.