Partnerships with leading global institutions can ensure our ideas and implementation strategies are globally relevant. Comment.
India’s strength in science and technology is renowned with our bold process in space and nuclear energy programs. Several departments under the Ministry of Science and Technology, take for example Biotechnology have forged strong foundations to boost early stage innovation. NITI Aayog has laid out comprehensive policy for technologies like artificial intelligence.
The next step is to establish a value chain from idea to market, as in the US and China. The ingredients are important – generation of ideas, deep-tech investment and a Clear vision of how to grow.
Generation of Ideas
Free flow of ideas lies are the bedrock of an innovative society. An immediate requirement is to enhance capabilities and upgrade existing institutions in the form of world class hubs. Policymakers need to study India’s needs and incentivise innovators to tackle these problems. Intervention during educational years is essential to nurture talent in schools and colleges.
Tech investment strategies
Deep science innovation requires robust funding which needs to go beyond early development. There is a need to create focused funding avenues for deep science innovation entires like university research labs, innovations hubs, and research institutions like ISRO, CSIR.
Dedicated investment opportunities to support India’s top science talent will boost the ecosystem.
India has an ambitious Goal of $5 trillion GDP. With an ever growing ambitious goal, there is a need to take into account needs of all stakeholders. We need address domestic challenges, identify verticals to accelerate India’s socio-economic growth and create long term investment strategies. It includes defence, healthcare, AI and water treatment technologies. To ensure ongoing process, corporate framework to track KPIs is essential. The idea of a clear vision is to improve the quality of life in the coming 20-30 years.
Topics: GS-III: Technology Missions