The big markets of tomorrow are located in large developing economies like India. Customers in these economies, whether businesses or consumers, are resource-constrained and, hence, affordability is an important criterion for product success. Companies addressing these markets have no option but to reduce the upfront costs of development as well as the direct cost involved in the production and delivery of products. A paradigm of frugal innovation has emerged to guide this process. Read more at: https://www.thehindubusinessline.com/news/variety/the-five-myths-of-frugal-innovation/article23029123.ece