Here is a great TED talk by Navi Radjou, who has spent many years studying jugaad innovations around the world.
He argues that frugal innovation is not just about low-tech, but rather about making high-tech more affordable and accessible to more people.
"The frugal innovation revolution in the West is driven by creative entrepreneurs who are trying to address basic needs around the world...
We are starting to see developed countries and developing countries come together to co-create frugal solution that benefit the entire humanity."
Oxford dictionary agrees!
Navi Radjou: Creative problem-solving in the face of extreme limits