3M India Limited announced that a new R&D facility will be established in Bangalore by middle 2010 to develop products for local markets and to connect better technology to customers, according to Inge Thulin, Executive Vice-President, 3M International Operations. Globally, 3M has 35 labs across the world. In keeping with its focus on innovation, 3M invests approximately 6 per cent of its sales on R&D. The new facility in India is expected to be completed by the fourth quarter of 2010.
Takeway
Innovators such as Google, General Electric and 3M are making a beeline for India’s talent. Cost is a small reason for doing so. Talent, markets and capacity are probably more important to 3M.
