Yet another area is product and service innovation in terms of new goods and services for which Indian examples can be many. As regards supply chain innovation, the best example comes from the rural sector particularly the agriculture sector, but which is still in its infancy in India. All these innovations take place when there is some need.
The Deputy Governor of the Finnish central bank, Olli Rehn, who is tipped to, is likely to join the ECB, has been nominated to do so, he says the medium-term outlook is tilted towards the downside. That’s not quite the same as the ECB says.