The GE Global Innovation Barometer (GIB) for 2018 reveals growing confidence among business leaders around the world. India upholds the global narrative as the GIB for 2018 shows that there has been a sharp increase in the number of Indian business executives who say India has an innovation-conducive environment, from only 28% in 2014 to 67% now.
But hype around certain technologies does not always equate to transformative impact. India overindexes against the global average for all hypes, except fintech (75% compared to 69% globally) and driverless transport (68% compared to 62% globally). Indian business executives show considerable enthusiasm for smart cities, which overindexes against the global average by 35 percentage points (87% compared to 62% globally). The dominance of smart cities is also reflected in the impact-ranking, taking the first position at 87% against the global average of 71%.
Skills gaps continue to be a top concern among Indian businesses, with 77% of executives believing they are an issue facing their industry, compared to the global average of 74%.
The following graphics show how 150 business executives in India responded to survey questions on the emerging technologies and challenges they face in innovating their business.
