The idea of ​​being Atmanirbhar is paramount in realizing India’s dream of becoming an economic powerhouse. But financial success is not easy. Especially in today’s interconnected world, each country’s economic outlook is linked to others.

To realize its true economic potential, India must pay attention to the role science and technology play in nation-building, from agriculture to factories.

We don’t have to look far to understand scientific and technological innovation and the kind of impact it has had on the nation. Two examples come to mind. One is an astonishing feat in outer space, the other is an opportunity and a response to a crisis.

The first one is from ISRO ¥800 million Mars or Chandrayaan 2 missions, said to be cheaper to build than the Hollywood movie Interstellar.

Another is to rise to the opportunity of the pandemic. From Covaxin, which provided India’s first homegrown vaccine, to companies manufacturing face masks, PPE kits and working on oxygen concentrators for a population of 1.4 billion, this is not just a cohesion but a scientific capability. It was a collective show of

If we can achieve such great results in times of crisis, what keeps us from achieving our true potential in normal circumstances?

Ideas are the foundation of all economic prosperity, and their implementation depends on scientific endeavours. Take any product you can think of. Without the latest technology and advancements, it’s just an idea. This brings us to another point. If we recognize the enormous role of science and technology, we need to spend more on research and development. According to a study2 conducted by NITI Aayog and the Institute for Competitiveness, India’s spending on R&D is the lowest in the world at US$43 per capita. The report highlights that India’s GERD or total spending on R&D needs to increase to 2% of total spending if India is to achieve its goal of becoming a US$5 trillion economy. I’m here.

Domestic product. Here, companies and governments can work together to increase spending on research and development.

change in consciousness

Does India need to change its mindset? A change in perception, believing in the power of technology to attract mega-projects not only to engineers and companies, but also at the grassroots level. This subtle shift in thinking about how we apply science and technology causes a tectonic shift in results.

We need to expand the reach of science and technology in a way that embraces hyperlocal innovation. The generosity of combining hyperlocal and national level innovation will be the hallmark of a solid machine that works towards national improvement and fine-tunes solutions for a better tomorrow.

(Dr. Richard Lobo, Innovation and CQH – Business Excellence, Tata Chemicals)

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