India’s Tech Landscape is Adopting a Holistic & Integrated Mission Mode Approach: Dr V K Saraswat
“The last ten years in India’s technology landscape has seen increasing focus by adopting a holistic and integrated mission mode approach. That’s why the present Government has launched a number of missions today, starting from the Hydrogen Mission to the Supercomputing Mission, the Semiconductor Mission, the Deep Ocean Mission, and so on, which are oriented towards interdisciplinary collaborations to address complex problems,” said Dr V K Saraswat, Member, NITI Aayog, while speaking at the Annual Business Summit 2024 of the Confederation on Indian Industry (CII) themed ‘Co-Creating the Future Responsibly: Role of Business’, at New Delhi today.
Addressing the session on ‘Leveraging New Age Technologies-Applications in the Indian Context,’ Dr Saraswat stated that new age technologies are poised to significantly impact the Indian economy and act as catalysts that drive economic growth, foster innovation, and create new industries. By generating jobs and enhancing access to essential services such as healthcare and education, emerging technologies will have a profound social impact in the coming years.
Dr Saraswat also emphasized the importance of increasing R&D investments, establishing innovation hubs, streamlining regulations, leveraging global partnerships, and developing robust monitoring mechanisms to achieve economic development goals through technological integration.
Ms Vrinda Kapoor, Co-Founder and CEO, 3rdiTech, emphasized that the future of technological advancements is anchored in solving complex hardware challenges. India, though a few decades behind, is now poised to monetize and innovate in hardware. She also added that Indian businesses have the potential to transition from a procurement mindset to a proactive innovation mindset. By capitalizing on Government incentives, nurturing the innovation ecosystem, and addressing global technological needs, India can emerge as a technological powerhouse.
In his address, Dr Milind Pimprikar, Chairman, CANEUS International, Montreal, Canada, captured the critical importance of commercializing deep technologies. He pointed out that while customers are eager to adopt cutting-edge solutions, bridging the gap between early-stage research and market-ready products remains a formidable challenge. This gap, often referred to as the "valley of death," necessitates robust strategies and support mechanisms to ensure successful technology transitions.
Ms Ashmita Sethi, President and Country Head, Pratt and Whitney, emphasized that science and technology are at the heart of solving 21st century challenges. Even responding to today's environmental challenges require highly sophisticated technological solutions. She spoke about recent advancements in technology and how that has translated into saving billions of gallons of fuel and significantly reduced carbon emissions in line with the commitment to a sustainable future.
Ms Ipsita Dasgupta, Senior VP and Managing Director, HP India, highlighted five critical areas of focus for technology in India: leveraging AI at the edge for faster and more efficient processing, embracing remote work to tap into a diverse talent pool and increase female workforce participation, enhancing MSME productivity through technology and know-how as a service, promoting personalized education and skilling, and prioritizing cybersecurity. These initiatives, coupled with India's demographic advantage, have the potential to propel India's growth and position it as a global leader in innovation and economic development.
Mr Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova Limited, moderated the panel discussion and concluded by emphasizing the rapid pace of technological innovation, stating that the relentless pace will ensure ongoing groundbreaking advancements that will fuel innovation and enhance quality of life.
17 May 2024
New Delhi