Melding Science, Mathematics, Engineering and Technology with the Creative arts and Design drives Innovation. India should support this meld in order to foster a nation of innovators and entrepreneurs. India must make a sound business case for strategic, prioritized investments in the research, talent and infrastructure necessary for tech-based innovation. 

Indians most fundamentally have been about opportunity and about new beginnings to set out for a newer challenge. India, in past with its entrepreneurial spirit has managed to churn out world-class companies across various sectors. Today, as science and technology are rewritten in digital and genetic codes, India finds itself at an historical juncture shaped by two unprecedented shifts: the world is becoming both more and more competitive as well as interconnected as an immediate effect of the globalization move in last couple of decades.

In this increasingly globalized world, innovation plays the important role of a differentiator, increases ability to harness the potential of entrepreneurship and vice versa. Leadership in innovation will unleash the productivity and leadership in entrepreneurship will realise the innovation, which consequently leads to economic growth that will underpin India’s prosperity. The need to rapidly translate knowledge and insights into new high-value products and service is imperative to address the many grand challenges that India faces and the world.

Metro areas and regions must nurture and attract highly educated workers and entrepreneurs who share knowledge and form networks of ideas, creativity, and economic potential that spur innovation. Regional leaders must collaborate and leverage regional assets, including talent, technology, and capital to foster a thriving and dynamic local economy.

The council’s Innovation initiative is supported by a series of dialogues, events, roundtables as well as case studies which will help us understand, address and find, target and think of ways to tackle the challenges with an appropriate solutions with the help of our members who have been at the forefront of their respective fields.

Some of the issues we need to focus are: 

  • Develop and Protect Intellectual Property
  • Starting startups and fostering entrepreneurship
  • Waste Management


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© [2014] India Council on Competitiveness

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