Indian industry must accelerate innovation to achieve 2047 objectives: Dr Jitendra Singh
New Delhi, Oct 10 (IANS) Union Minister of State Dr Jitendra Singh on Saturday urged India’s industry to come forward to accelerate innovation, translate scientific research into commercial ventures and scale up India’s technological capabilities to achieve national objectives set for 2047 and strengthen India’s strategic sovereignty.
Addressing 121st Annual Session of PHD Chamber of Commerce and Industry (PHDCCI) here, the minister emphasised the need to bring the government, industry, academia, research institutions and start-ups together to convert scientific capabilities into indigenous technologies, commercially viable enterprises and globally competitive solutions.
He said India’s next phase of technological growth must move beyond adoption of technologies developed elsewhere towards creating indigenous solutions with global relevance.
“The expansion of the space ecosystem following policy reforms, alongside greater private-sector participation in strategic technology areas, demonstrates the opportunities that emerge when scientific capabilities are supported by an enabling policy environment and entrepreneurial initiative,” he said.
Citing progress under National Quantum Mission, the minister said India had set eight-year target of achieving 2,000 kilometres of quantum-secure communication and had achieved 1,000-kilometre milestone in three years.
He also referred to growth of India’s bioeconomy from around USD 10 billion in 2014 to approximately $196 billion with ambition to reach $300 billion by 2030.
He cited expansion of biotechnology start-up ecosystem as evidence of opportunities emerging in life sciences and advanced research, demonstrating potential of scientific innovation to generate new enterprises and create economic value.
Dr Singh stressed that industry engagement should begin at inception of research projects, enabling scientists to understand market requirements and develop solutions with clear pathway to commercial deployment.
Referring to the government’s Research, Development and Innovation initiative, he said greater private-sector participation in R&D was essential to accelerate translation of scientific discoveries into commercial applications.
–IANS
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