"Innovation harnesses the technology that leads to enhanced competitiveness," Radhakrishnan said at the second Innovation Conclave organised by Confederation of Indian Industry (CII), Northern Region.
He also acknowledged India Inc's contribution and support in ISRO's success, as 80 per cent of inputs for its satellite programmes are supplied by the domestic industry.
Director General, Defence Research Development Organisation (DRDO), Dr V K Saraswat said that "India is becoming a top global innovator and to sustain this, we need to continually move in this direction."
He also opined that innovation was central to every organisation's growth.
"We must concentrate on creative thinking, better information systems, training and skills upgradation to move India into the orbit of developed countries," he said.
