India Innovation Debate
India is increasingly becoming a top global innovator for high-tech products and services. Still, the country is underperforming relative to its innovation potential—with direct implications for long-term industrial competitiveness and economic growth. About 90 percent of Indian workers are employed in the informal sector, and this sector is often characterized by underemployment, as well as low-productivity and low-skill activities. Although India has the benefit of a dynamic young population—with more than half of the country’s population under 25 years old—only 17 percent of people in their mid-20s and older have a secondary education. To sustain rapid growth and help alleviate poverty, India needs to aggressively harness its innovation potential, relying on innovation-led, rapid, and inclusive growth to achieve economic and social transformation.
Innovation is a broad topic that cuts across government ministries and economic sectors, and affects all Indians. It requires both private and public commitments and efforts—especially collaboration between partners with different perspectives. At the government level, some policy elements and investment decisions will be federal, while others will be more state responsibilities.
Realizing that innovation is the engine for the growth of prosperity and national competitiveness in the 21st century, the President of India has declared 2010 as the ‘Decade of Innovation’. Towards this end, the Prime Minister has approved the setting up of a National Innovation Council (NIC) under the Chairmanship of Mr. Sam Pitroda, Adviser to the PM on PIII to discuss, analyze and help implement strategies for inclusive innovation in India and prepare a Roadmap for Innovation 2010-2020.
India Innovation Debate 2010 would mobilize the leading thought leaders, policy makers, business representatives to share, discuss and evaluate action that would help to align businesses in line with the existing and emerging policies, competition trends, regulations and technology development towards sustainable innovation.
