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What Makes India a Successful Global R&D Hub

Shantanu Ghosh
Tuesday, December 1, 2009
Shantanu Ghosh
Innovation is a new way of doing something. It may refer to incremental and emergent or radical and revolutionary changes in thinking, products, processes, or organizations. Following Schumpeter (1934), contributors to the scholarly literature on innovation typically distinguish between invention, an idea made manifest, and innovation, ideas applied successfully in practice. In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy*.
India’s potential and how we can leverage it.

India has had a very long history in science, going back to the country’s ancient civilizations. It is this practice in science developed so early in history that has formed the bedrock of our current advancements in science and technology. India, as a country has always had scientific and technological talent of the highest quality and has for long been the source of good technical talent for a number of more developed economies.

Today, it is heartening to see this talent not only remain in India, where they believe the best opportunities in the world lie but also return to their homeland; because this is where they believe their future is – creating an environment for technological advancements of the highest level.

To effectively leverage this technical talent to the optimum, it is necessary to begin training early on in life. We no longer can afford the luxury of learning on the job and thereby wasting a couple of years. Technocrats need to jump start their careers, which means educational institutes must give industry ready professionals to industry.

Industry and academia have recognized this requirement and for the last few years are coming together to ensure that a set of industry ready professionals enter the R&D ecosystem every year.

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