Innovation is important at all stages of development, specifically the creation and diffusion of technologies are important for economic growth and welfare across all economies. It needs twin efforts of both the state and private actors:
Some recent examples:
- Demonetization: Successful implementation of it would require innovations as payment banks, point of sale machines and governments support by way of giving permissions and proper system to overcome challenges.
- Public Distribution System: Along with enabling environment brought in by the government with AADHAR it also requires innovation in technologies as use of GPS. Chhattisgarh where PDS is successfully implemented is a case in point.
- Digital India and Start up India: Initiatives as these require both the push from the government as well as technological innovations coming with the involvement of private sector.
Though the principal agent of S&T development in independent India has been the central government but over the time it has been bureaucratized and funds haven’t been commensurate with the needs. To gear up for the fourth industrial revolution, India needs bold government initiatives to create markets for new innovations, as well as help the IT services industry evolve rather than be overwhelmed by automation. A strong public-private partnerships along with leveraging on the international partnerships to build strong Indian capabilities across a broad spectrum would help India not in materializing digital India but also in achieving development goals.
Government can’t put India on top of the fourth industrial revolution through a bureaucratic diktat from Delhi. Science and sovereign can’t succeed without the other. We have Technology hubs like Bengaluru and Hyderabad. They have come together with government to build a new Innovative India.
The need of the hour is Innovation in various sectors.We need strong public-private partnerships to balance the twin imperatives of promoting technological innovation and devising economic and social regulation.The two also need to work together in leveraging international partnerships to build strong Indian capabilities.
