Indian Innovation: About Time We Lead, Instead of Following

Indian Innovation: About Time We Lead, Instead of Following

Technology is one of the most popular inventions of man which has a greater power over us influencing our daily life. From a simple nail cutter to a sophisticated Smartphone, technology has become an integral part of human life without which life is undeniably inevitable.  The machine has made us stand head held high with pride as this has constituted as the best companion helping us in each day to day activities. The advantages that come with the technology are definitely to be considered as a positive whereas the negative points are not less either. Technology and education will go hand in hand only when it is executed well with proper guidance and supervision.

In India, Technology has made its presence felt in various sectors for the development of the country to bring globally. Communication and Information Technology, Manufacturing Industry, Transportation, Defence, and Space Technologies are some of the major sectors which have incorporated modern technology in various aspects of their development and functioning.

The Growth of Indian technology is at stake; in normal thought ringing any bell, the answer can be made as either positive or negative while briefing about this topic we may get surprised by knowing the global status of India in the growth of research and development in technology and innovations. With over 1600 Tech start-ups and a record number of additional Unicorns added in 2020, the highest ever in a single calendar year Indian Tech start-up base witnessed a steady growth at a scale of good percentage. This is the overall status; here we are looking up to the real innovation and growth that can make India to a higher position globally.

Research and development (R&D) include activities that companies undertake to innovate and introduce new products and services. It is often the first stage in the development process. The goal is typically to take new products and services to market and add to the company's bottom line.

The term R&D is widely linked to innovation both in the corporate and government world or the public and private sectors. R&D allows a company to stay ahead of its competition. Without an R&D program, a company may not survive on its own and may have to rely on other ways to innovate such as engaging in mergers and acquisitions (M&A) or partnerships. Through R&D, companies can design new products and improve their existing offerings.

In today’s technology-oriented world of the 21st century, any country is considered powerful based on many developmental parameters, amongst which is the most prominent is the technological advancements that country has made with the help of the scientific acumen of its human resource.

This is one of the main reasons why the USA, China, Japan, and Israel are considered developed countries in the terms of innovative technology and why India is still counted under comparing to these nations. It’s not that Indians did not have any scientific knowledge or inventions in technology in the past.

While discussing these nations, all the elements are in place thanks to Taiwan's fully developed IT ecosystem and talent pool. For example, Taiwan has a high density of major IT companies, such as iPhone manufacturer Foxconn Technology Group, which describes itself as a pioneer of the advanced manufacturing and industrial internet ecosystem.

China has made rapid advances in areas such as education, infrastructure, high-tech manufacturing, academic publishing, patents, and commercial applications and is now in some areas and by some measures a world leader. China is now increasingly targeting indigenous innovation and aims to reform remaining weaknesses.

Science and technology in Israel are one of the country's most developed sectors. In 2019, Israel was ranked the world's fifth most innovative country by the Index. It ranks thirteenth in the world for scientific output as measured by the number of scientific publications per million citizens.

"Many of the advances in the sciences that we consider today to have been made in Europe were in fact made in India centuries ago."                                                                                                                      ~ GRANT DUFF (British Historian)

Over the years, the Indian software industry has matured from providing cost-effective back-office support to driving the digital transformation agenda ahead in global companies. Increasingly, leaders of more than a thousand global enterprises across the U.S., Europe, and other locations have realized India's potential and have set up their own IT or R&D centers to take advantage of the vibrant Indian software ecosystem. The Indian technology start-up ecosystem continues to witness a significant growth trajectory on the back of rapid digitalization and tech adoption.

The Indian software industry has accelerated the adoption of digital technologies in the country. The industry has played a crucial role in providing digital identities to over one billion people in the country, which is further enabling the provision of services across industries such as banking, healthcare, and education in an efficient manner.

Within about a decade, Indian IT companies have taken several services being provided to citizens and corporations and moved them online. Most of these systems have been developed by indigenous IT companies, and many are also maintained and managed by them.

But, a series of political, social, and religious changes had their negative repercussions on our scientific advancements and pulled us back from a curious and mindful nation to an imitative and monotonous one. However, India is ready to thrive and rise once again to prove its worth and make noticeable achievements as a deep-tech expert in the coming future.

But, the future is dictated by actions taken in the present and the present is a reflection of achievements and mistakes made in the past. Hence, to understand the rise and decline of India as a scientific power, we need to review and analyze the glorious history of science in the county and the reasons that led to its collapse. Science has been a part of Indian culture for centuries. We have had many scientists, technicians, and subject experts that have given significant scientific theories and nearly accurate measurements of astronomical distances.

In our country, education in the field of science and technology is still not in line with the international benchmark. Routine learning is promoted and hardly any creativity is applied during practicals. Children are not much interested to reason about different concepts and phenomena as they can fetch marks by simply learning the facts and present subject matter.

The exploration infrastructure is not very developed and so, many intellectuals from our country leave for abroad in search of better pay and opportunities. The standard of science education needs to be improved. This could be done by reforming the syllabus and curriculum according to international standards of universities like Harvard and MIT. Also, students should be made to approach theories and concepts practically. On the intermediate level, concept building should be encouraged instead of routine learning.

The continued innovation, right decision-making, and strong investor commitment have positioned the Indian start-up ecosystem as a key contributor in accelerating India’s digital economic growth. With the continued addition of new start-ups, booming unicorns, and increased adoption of deep-tech, the ecosystem shows an even more promising future.

The recent government has already taken few actions in line with the above solutions and the result is noticeable in terms of India’s improving rank and image as the most attractive investment destinations for technology transactions in the world.