Executive Summary (This is a document excerpt)

President Bush is expected to sign strategic science and technology (S&T) agreements with India during Indian Prime Minister Manmohan Singh's July 18-20, 2005 visit to the US. But unless US firms internalize the win-win rules of the global innovation game, US-Indian cooperation will be reduced to tactical trade activities. Governmental cooperation by itself won't convince US tech CEOs — who continue to view India as merely a low-cost labor source — to seek out and establish strategic innovation partnerships with talent-rich Indian firms. Instead, US companies must do what they did to fully exploit China's manufacturing capabilities — adapting their business models and refocusing their core competencies. US firms must ditch their rigid, US-centered innovation models in favor of a fluid market ecosystem — which Forrester calls Innovation Networks — that interconnects specialized US and Indian S&T capabilities to meet local and international demand.

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