Innovation is considered to be a key driver of a growing economy. In the context of the Indian economy, innovation as a major driver has gained momentum. With the number of startups increasing faster in India, the discussion on the innovation ecosystem in India has occupied the center-stage. Innovation in India has the potential to play a major role in the fields of employment generation and poverty alleviation. Thus, there needs to be a detailed discussion on the innovation ecosystem in India and what is the government doing to promote it.
Continuing its efforts in promoting innovation and entrepreneurship, Atal Innovation Mission has engaged in contributing to the society in these times of pandemic through an inter-ministerial working group. Let us understand the working and program of Atal Innovation Mission in this article.
In recent years, India has charted a unique path to digitization, the impact of which is inclusive, empowering and transformative. It is amongst the top two countries globally, only after China on many dimensions of digital adoption. By 2022, India’s digital economy may cross $1 trillion. This was the focus of India Digital Summit 2019 that was held in New Delhi. Since its launch, it has transformed India significantly. However, it is facing numerous challenges in the current times and the government needs to take steps to make it successful for the inclusiveness and empowerment of all Indian citizens.
India is largely an agrarian economy. More than 50% of its population is dependent on the agricultural sector for its livelihood and survival, though the returns are very low. The service sector, on the other hand, employs very few of the Indian labour force and its return nearly 60% of the Indian GDP. This is highly unfavourable for the Indian economy. To change this current trend, it is necessary to enhance the manufacturing sector. This can greatly boost India’s economic growth and solve the current unemployment crisis. The Make in India is a major step towards this direction.
The Ministry of Defence (MoD) has put out Draft Defence Production and Export Promotion Policy (DPEPP) 2020 for public feedback. The draft policy seeks to enhance the defence production capabilities of the country for achieving self-reliance and increased exports. This comes at a time when India is facing security concerns at numerous fronts, with China and Pakistan’s growing hostility towards India and neighbouring countries having closer ties with China.