Indian companies are not leveraging innovation. (Oscar-winning film) Slumdog Millionaire is a good example of this. A R Rehman has done better music earlier. But he won the Oscar only for Slumdog. It was presented well through a good package. We have lot of innovations, but it is not promoted well.

Indian companies focus more on services than products. How important is a product-based innovation?

The relevance of product-based innovation is growing. In 5-7 years we will see more products coming from India. There is a huge market for products.

How do you see the growth of IT and BPO in India?

The short-term growth has definitely been hit. However, in the long term, IT will grow. It will be difficult to do without information technology.

What are your company's future plans?

We plan to be a leader in the outsourced product development.

Image: Anand Deshpande and wife during cultural event at Persistent. | Photograph, courtesy: Persistent Systems.

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