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<ul><li>India’s human capital has the highest score on the Innovation Index published by <keyword id="2665691" type="PERSON" weightage="20" keywordseo="Niti-Aayog">NITI Aayog</keyword>.</li><li>But, it also has the highest disparity of all the indicators with scores of states and UTs within India fluctuating between 8.98 to 74.96.</li><li>There’s also a paradoxical disparity between human capital and the number of people employed in ‘knowledge-intensive’ activities.</li></ul>India’s Innovation Index ranks the country and its states on five enabling pillars. Of those pillars, human capital has the highest score hitting 32. Even though this means that India has the ability to provide quality education and research capabilities to its workforce, not all states are doing equally well. In fact, the human capital pillar is also has the most disparity on the index with scores fluctuating from 8.98 to 74.96. 
 <div type="image" title="innovation2_edited" msid="71645878" hostid="261" caption="&amp;lt;p&amp;gt;Performance of states on human capital&amp;lt;/p&amp;gt;"></div>



 Innovation disparity among states Southern states like Tamil Nadu, Kerala and Karnataka topped the index while Uttar Pradesh, Jharkhand and Bihar came in last. According to NITI Aayog’s <keyword id="4131506" type="PERSON" weightage="20" keywordseo="india-innovation-index">India Innovation Index</keyword> report, this shows that the lower ranking states are in need of more investment to improve their education system. It also means that in order for innovation to improve, investment in the education system is a key factor. The smaller the better 
 <div type="image" title="innovation1_edited" msid="71645969" hostid="261" caption="&amp;lt;p&amp;gt;Over performing and under performing states on India&amp;#39;s Innovation Index&amp;lt;/p&amp;gt;"></div>



 The report’s findings show that the smaller and richer the state, the better it is at producing human capital. Income has a strong correlation because it implies that a state has more resources to devote towards building up its workforce. Size, on the other hand, means that it’s easier to manage administration and focus on smaller regions. Union territories and city states shine Chandigarh, Puducherry and Delhi lead when it comes to UTs and city states. In fact, they even outperform the Tamil Nadu — the highest performing state. According to NITI Aayog, this is because these regions have a higher availability of educational institutions and researchers. Addressing the paradox Even though India’s ranks high when it comes to human capital, it doesn’t do as well when it comes to knowledge workers — another enabling pillar of the Innovation Index. This means that even though India is producing a high number of graduates, they’re not being employed in ‘knowledge-intensive’ activities. The Innovation Index also found that India has a serious lack of research and development (R&amp;D) workers per million, The disparity indicates one of two things. Either, India’s graduates aren’t employable or the employment opportunities are scarce to begin with. “Further study is required to understand the situation better,” stated the report. But, India’s Innovation Index findings were run past a committee to figure out how to improve the country’s innovative capacity. When it comes to human capital, they highlighted two main challenges. One, the education isn’t industry oriented so low employability is an issue. More often than not, industries normally have to take it upon themselves to train new recruits. Second of all, the Indian education system focuses on quantity rather than quality. The committee recommends more coordination between industry players and education institutions to design a better syllabus. It also recommends improving the quality of education imparted by professors and giving them more time to focus on their own research. The challenges identified need to addressed a policy level. It also shows for the innovation ecosystem in India holds room for improvement.

India scores high on talent but some states vastly outperform others

<ul><li><keyword id="6354642" type="General" weightage="100" keywordseo="modi" source="Orion">Modi</keyword> said <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> is going ahead with the mantra of 'Jai Jawan, <keyword id="225721" type="General" weightage="80" keywordseo="jai-kisan" source="Orion">Jai Kisan</keyword>, <keyword id="2474971" type="General" weightage="80" keywordseo="jai-vigyan" source="Orion">Jai Vigyan</keyword> and <keyword id="7185386" type="General" weightage="80" keywordseo="jai-anusandhan" source="Orion">Jai Anusandhan</keyword>'.</li><li>The Prime Minister noted that India's Global Innovation Index ranking improved from 81 in 2015 to 46. </li><li>PM Modi urged the state governments to frame modern policies related to science, innovation and technology. </li></ul> Prime Minister Narendra Modi on Saturday called for concerted efforts to make India a global centre of research and innovation, and urged state governments to frame modern policies in the fields of science and technology. Addressing via video link the inaugural session of the <keyword id="14946496" type="General" weightage="20" keywordseo="centre-state-science-conclave" source="Orion">Centre-State Science Conclave</keyword> organised here, Modi said India is going ahead with the mantra of 'Jai Jawan, Jai Kisan, Jai Vigyan and Jai Anusandhan'. "We have to work together on various fronts to make India a global centre of research and innovation in this 'amrit kaal'. We have to take our research in the fields of science and technology to the local level. It is the need of the hour for all the states to give emphasis on innovation to find local solutions to local problems," he said. Urging the state governments to frame modern policies related to science, innovation and technology to find solutions to local problems, he stressed the need for more cooperation and collaboration with scientists. "In order to encourage innovation, the state governments should give emphasis on creation of more and more scientific institutions and on simplification of processes. The number of innovation labs should also be increased in the institutions of higher education in the states," he said. The prime minister noted that India's Global Innovation Index ranking improved from 81 in 2015 to 46 due to the efforts of the central government.

PM Modi calls for concerted efforts to make India global centre of research and innovation

A top American diplomat said India will astound itself as the country is passionate about <a href="http://www.businessinsider.in/searchresult.cms?query=innovation&amp;sortorder=effectivedate">innovation</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurship&amp;sortorder=effectivedate">entrepreneurship</a>. 
 
Assistant Secretary of State for Economic and Business Affairs Charles H Rivkin said <a href="http://www.businessinsider.in/searchresult.cms?query=India+US+ties&amp;sortorder=effectivedate">India</a> will also astonish the world owing to its growing vibrancy. 
 
Rivkin had recently led a high-powered US delegation on the American Innovation Roadshow to promote economic growth in four cities-New Delhi, Gurgaon, Hyderabad and Ahmedabad. 
 
"I was so impressed by what I saw. In every incubator we visited, members of our delegation, especially the solar companies, identified tangible commercial and investment opportunities," said Rivkin. 
 "In every meeting, I experienced in a very refreshing way exactly what binds our two countries together: a shared passion for innovation and <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">entrepreneurship</keyword>. In fact, Americans and Indian entrepreneurs have become part of a shared culture that reveres innovation," Rivkin said. 
 
Referring to the recent decisions of <a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi</a> to increasingly devolve federal funding to the States and encouraging them to actively compete with one another in a "race to the top" for foreign investment, Rivkin said this new dynamic was evident in their conversations with state leaders.

India is passionate about innovation and will astound the world, says US diplomat

<ul><li>The ranking is done in six categories.</li><li>In the first category, IISc Bangalore and IIT Kharagpur have bagged the fourth and fifth ranks respectively. Seven IITs have figured in the top 10 list under the category. </li><li><keyword id="6398497" type="COMPANY" weightage="20" keywordseo="Institute-of-Chemical-Technology">Institute of Chemical Technology</keyword>, Maharashtra, has been ranked at the top among state-funded universities, followed by <keyword id="49466" type="COMPANY" weightage="20" keywordseo="Panjab-University">Panjab University</keyword> and Chaudhary Charan Singh Haryana Agricultural University. </li><li>Among state-funded autonomous institutes, College of Engineering, Pune, has bagged first rank followed by PES College of Engineering, Karnataka and Coimbatore Institute of Technology, Tamil Nadu. </li></ul> Madras, Bombay and Delhi IITs have bagged the top three positions among centrally-funded institutes of national importance in the Atal Ranking of Institutions on Innovations Achievements (ARIIA), announced on Tuesday. ARIIA is an initiative of the Ministry of Education to systematically rank higher education institutions and universities on indicators related to innovation. The ranking is done in six categories -- centrally-funded institutes of national importance, state-funded universities, state-funded autonomous institutions, deemed universities, private institutions, and women only higher educational institutions. In the first category, IISc Bangalore and IIT Kharagpur have bagged the fourth and fifth ranks respectively. Seven IITs have figured in the top 10 list under the category. Institute of Chemical Technology, Maharashtra, has been ranked at the top among state-funded universities, followed by Panjab University and Chaudhary Charan Singh Haryana Agricultural University. Among state-funded autonomous institutes, College of Engineering, Pune, has bagged first rank followed by PES College of Engineering, Karnataka and Coimbatore Institute of Technology, Tamil Nadu. Kalinga <keyword id="9780158" type="COMPANY" weightage="20" keywordseo="institute-of-industrial-technology">Institute of Industrial Technology</keyword>, Odisha has been ranked at the top among private universities, followed by SRM Institute of Science and Technology and Vellore Institute of Technology, both in Tamil Nadu. Speaking at the occasion, Union Minister of Education Ramesh Pokhriyal 'Nishank' mentioned that the ranking is named after former Prime Minister Atal Bihari Vajpayee. "Under his leadership, India took many leaps in the field of Innovation. ARIIA gives us a reflection of our efforts and provides us with a reason to celebrate our achievements. A National Research Foundation (NRF) will be set up for invigorating innovation and research under recently released Nation Education Policy (NEP)," he said. The minister said this year, the category of women only higher educational institutions was introduced to encourage women and bringing gender parity in the areas of innovation and entrepreneurship. Avinashilingam Institute for Home Science and Higher Education for Women bagged the top prize in the category. Releasing the ranking, Vice President Venkaiah Naidu said, "Innovation has always been key defining feature of human progress. India has its own illustrious history of innovations spanning at least 20 centuries right from the invention of 'zero' and the decimal system. India was known as the 'vishwa guru'. We must regain that intellectual leadership, we must again emerge as a global hub of learning and innovation." "We have highly talented youths brimming with new ideas, with a passion for implementation and willingness to forge a new path. The youth will define our country's future. They need encouragement, facilitation and recognition, they must be given needed guidance and freedom to explore new frontiers," Naidu added.

IIT Madras, IIT Bombay and IIT Delhi are the top three centrally-funded institutes

India-US Strategic and Commercial Dialogue ended on a positive note as both the countries decided to launch a forum next year in a bid to boost <a href="http://www.businessinsider.in/Thinkers/Thinkers-50-The-Power-of-Ideas/articleshow/46987403.cms">innovation</a>, investment and <a href="http://www.businessinsider.in/searchresult.cms?query=India+US+trade">trade ties</a>. 
 Through the <keyword id="3069709" type="UNKNOWN" weightage="20" keywordseo="Innovation-Forum">Innovation Forum</keyword>, New Delhi and Washington will seek private sector feedback and input for bilateral discussions. It will also address a slew of topics including advancement of <a href="http://www.businessinsider.in/searchresult.cms?query=SME">small and medium-sized enterprises</a> (SMEs), identification of specific skill sets and propel innovation forward, etc. 
 
The Center for Strategic and International Studies will act as a convener of the annual Innovation Forum, which will be supported by a steering committee comprising organisations from both countries. 
 
Meanwhile, India and the US also agreed to support the efforts of the <a href="http://www.businessinsider.in/searchresult.cms?query=harvard+business+school">Harvard Business School</a> and the Indian Institute of Management Ahmedabad to develop a cluster map that will assist Indian companies integrate into global supply chains, strengthen India's economy and better enable <a href="http://www.businessinsider.in/searchresult.cms?query=american+companies">American companies</a> to identify markets for their products and services in India. 
 The <keyword id="100742" type="ORGANIZATION" weightage="20" keywordseo="US-State-Department">US State Department</keyword> said cluster mapping will help US and Indian decision-makers develop more effective. 
 
(Image: Reuters)

India and US to innovate together like never before!

New Delhi [India], February 23 (ANI): The Asian Development Bank (ADB) has greenlit a USD 23 million loan to foster the growth of fintech education, research, and innovation at the <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> International Finance Tec-City (GIFT) in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>. According to ADB, Gujarat International Finance Tec-City (GIFT), a state-owned enterprise, serves as a cornerstone for nurturing fintech ecosystems and financial services within India. Positioned as the country's premier international financial services center, GIFT has emerged as a burgeoning hub for fostering and nurturing local startups, catalyzing innovation, and propelling economic growth. ADB Economist <keyword id="20688619" type="General" weightage="20" keywordseo="kanupriya-gupta" source="keywords">Kanupriya Gupta</keyword> emphasized the transformative impact of India's fintech industry on business operations, economic prosperity, and future readiness. <keyword id="19983550" type="General" weightage="20" keywordseo="gupta" source="keywords">Gupta</keyword> underscored ADB's commitment to strengthening fintech education to enhance the efficiency and accessibility of digital and financial services across India. Gupta said, "The development of India's fintech industry has transformed how people do business, contributed to economic growth, and prepared the country for the future. ADB's assistance will help strengthen the country's fintech education to ensure that digital and financial services become more efficient and accessible in the future." The ambitious project spearheaded by ADB will see the establishment of an inclusive, sustainable, and climate-resilient International Fintech Institute (<keyword id="20688621" type="General" weightage="20" keywordseo="ifi" source="keywords">IFI</keyword>) within GIFT's premises. The IFI, in collaboration with renowned global institutes and universities, will offer cutting-edge fintech training programs aligned with industry standards and international best practices. A key focus of the institute will be on nurturing innovation and entrepreneurship, with a particular emphasis on supporting women-led startups through tailored incubation and acceleration services. Additionally, the IFI will forge strategic partnerships with industry stakeholders and venture capital funds to facilitate the growth and scalability of fintech startups. In line with ADB's commitment to fostering research and innovation, the program will channel resources towards exploring innovative solutions and technologies in various domains, including climate fintech, regulatory technology, social inclusion, and gender equality in finance. The initiative will also entail the development of a state fintech readiness index to gauge the ecosystem's preparedness and identify areas for improvement. ADB's unwavering dedication to promoting prosperity, inclusivity, resilience, and sustainability in the Asia-Pacific region underscores its broader mission to eradicate extreme poverty and foster sustainable development. With a membership comprising 68 nations, 49 of which are from the region, ADB remains steadfast in its pursuit of catalyzing positive change and driving economic progress across the region. As the fintech ecosystem continues to evolve and expand, ADB's intervention is poised to serve as a catalyst for driving innovation, fostering entrepreneurship, and unlocking new avenues for economic growth and financial inclusion in Gujarat and beyond. (ANI)

ADB approves $23 million loan to catalyze fintech development in Gujarat

<ul><li><keyword id="1824765" type="COMPANY" weightage="20" keywordseo="Titan-company">Titan Company</keyword> has partnered with country’s largest lender <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) to introduce Titan Pay, a watch that will enable contactless payments.</li><li>With this launch, SBI account holders can tap their Titan Pay watch on <keyword id="2438417" type="PERSON" weightage="20" keywordseo="contactless-payment">contactless payment</keyword> POS machine without the need of swiping or inserting their SBI bank card. </li><li>Payments of up to Rs 2000 can be made without entering a PIN.</li></ul> The new normal has enforced upon an urgent need to bring about innovative &amp; safer purchase solutions in the retail space. The fifth largest watch brand in the world, Titan Company Limited has partnered with country’s largest lender State Bank of India (SBI) to introduce Titan Pay powered by <keyword id="7668181" type="UNKNOWN" weightage="20" keywordseo="Yono-Sbi">YONO SBI</keyword>. Through this partnership, Titan and SBI are launching a range of stylish new watches with contactless payment functionality for the first time in India. With this launch, SBI account holders can tap their Titan Pay watch on contactless payment POS machine without the need of swiping or inserting their SBI bank card. Payments of up to INR 2000 can be made without entering a PIN. A secure certified Near-Field Communication (NFC) chip embedded in the watch strap by Tappy Technologies enables all the functionalities of a standard contactless SBI debit card. The payment feature on these watches will be accessible on over 2 million contactless MasterCard-enabled Point-of-Sale (POS) machines in the country. This exclusive collection of elegant watches include 3 styles for men and 2 for women and are attractively priced between Rs 2995 and Rs 5995 to make it widely accessible to all SBI and Titan consumers. Speaking on the occasion, <keyword id="737485" type="PERSON" weightage="20" keywordseo="C-K-Venkataraman">C K Venkataraman</keyword>, Managing Director, Titan Company Limited said, “Titan has always been at the pinnacle of design and innovation. We have always launched products to cater to the changing needs of our consumers. SBI is the perfect partner to introduce a payment solution for the new normal that is fast, secure and seamless. This product will not only satisfy the consumer’s banking needs but will also serve today’s evolving consumers with its classic and sophisticated designs.” Sharing his thoughts on the association, <keyword id="254056" type="PERSON" weightage="20" keywordseo="Rajnish-Kumar">Rajnish Kumar</keyword>, Chairman, SBI said, “We are glad to be a part of the launch of this unique proposition in the contactless payments space by Titan. It gives me immense pleasure to join hands with one of the world’s 5th largest watch manufacturer, to provide a smart and innovative shopping solution for our YONO customers with <keyword id="9949594" type="COMPANY" weightage="20" keywordseo="titan-payment-watches">Titan Payment Watches</keyword>. We believe this innovative offering will redefine the shopping experience for our customers with Tap &amp; Pay technology. With latest technological advancements, State Bank of India has always been striving towards providing innovative, best-in-class banking services for our customers”. Titan Company has always been at the centre of innovation and believes in harnessing technology for convenience and ease of the users. These watches address the needs of the new normal by eliminating payment barriers and making transactions quick, contactless, secure, and easy for consumers. Through constant investment in technology and design, Titan aims to continue advancing the products and offerings for the consumers in the smart segment.

Titan Company partners with SBI to launch watches that will help you make contactless payments

<a href="http://www.businessinsider.in/searchresult.cms?query=IIT+Kharagpur">IIT-Kharagpur</a> has shown how to <a href="http://www.businessinsider.in/searchresult.cms?query=innovation">innovate</a> as the institute won the maximum number of laurels at the <keyword id="3284962" type="UNKNOWN" weightage="20" keywordseo="Gandhian-Young-Technology-Innovation">Gandhian Young Technology Innovation</keyword> (GYTI) awards held at Rashtrapati Bhawan. 
 
IIT-Kharagpur outperformed 276 institutes from across the country and maximum awards it won were of <a href="http://www.businessinsider.in/searchresult.cms?query=medical">medical</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=biotech">biotech</a> innovations. The appreciations were in engineering category. 
 
"After four rounds of evaluation, 19 teams have been selected for innovation awards and 24 for appreciation. Of the 19 awards, 15 awardees in Medical and Biotech innovations category will get Department of Biotechnology sponsored (BITAC-SRISTI) grant of Rs 15 lakh each to further their prototypes," an IIT release said. 
 
GYTI 2016 was a pan-India competition with over 2,363 innovation entries in 50 technology domains from 276 institutes from 26 states and two Union Territories. 
 
(Image: Indiatimes)

IIT-Kharagpur shows how to innovate, bags maximum laurels at innovation awards

New Delhi, Streaming service <keyword id="2189512" type="General" weightage="100" keywordseo="prime-video" source="Orion">Prime Video</keyword> on Wednesday announced "<keyword id="17979898" type="General" weightage="20" keywordseo="mission-start-ab" source="Orion">Mission Start Ab</keyword>", a business reality series in partnership with the Office of the Principal Scientific Adviser (PSA). The seven-episode series will show promising entrepreneurs, focussed on scaling made-for-India innovations with the potential to impact socio-economic change, undertake a series of challenges in pursuit of scaling their business and securing funding for their ventures, a press release stated. "With India as one of the world's largest and most vibrant start-up ecosystems, this wholly Made-In-India series also brings together three renowned investors who will search for India's next Unicorn, by putting these 10 early-stage founders through a series of intense exercises and simulations that will test their entrepreneurial, management, communication and crises management skills," the streamer said. "Mission Start Ab", which is currently in production, is slated to premiere soon on Prime Video. "Lauding the remarkable spirit of India's grassroot innovators, I am delighted to announce Prime Video's reality series Mission Start Ab. This captivating series will serve as a powerful platform, showcasing the inspiring stories of those driving social change through innovation," said Ajay Kumar Sood, Principal Scientific Adviser to Government of India. "I am optimistic that it will offer immense learning opportunities to grassroot innovators in India, providing valuable insights into sustainable start-up practices and attracting the right investors. Furthermore, the series promises to entertain viewers while promoting the growth of our nation's grassroots innovation ecosystem," he added. Sushant Sreeram, Country Director, Prime Video, India, said the streamer has always been an enabler of India's economy - directly and indirectly. "This collaboration between the Office of the PSA, Government of India and Prime Video is another milestone on the journey that started earlier this year with Amazon India signing the Letter of Engagement (LoE) with the Ministry of Information and Broadcasting (MIB) with an objective of contributing to the growth of India's creative economy," Sareen said. Actor <keyword id="6354526" type="General" weightage="50" keywordseo="alia-bhatt" source="Orion">Alia Bhatt</keyword> was also present at the event and said "Mission Start Ab" has the potential to have a "far-reaching impact on the country's growing start-up ecosystem". "While there are many great ideas and ambitious young founders around us, it takes a special kind of determination to turn that idea into reality, build the right team, find the right mentors, raise funding, and create something out of nothing," she said.

Prime Video announces reality series 'Mission Start Ab'

Inventors and designers in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> could have a <a href="http://www.thehindu.com/todays-paper/tp-in-school/niti-to-open-applications-for-atal-new-india-challenge-tomorrow/article23676243.ece">chance</a> to win upto Rs 1 crore if they win the <keyword id="2746648" type="ORGANIZATION" weightage="100" keywordseo="Atal-Innovation-Mission">Atal Innovation Mission</keyword> (AIM) challenge. The Atal New India Challenge is part of <keyword id="2665691" type="PERSON" weightage="20" keywordseo="Niti-Aayog">NITI Aayog</keyword>, and will not only offer money, but provide mentorship for the winning ideas. Participants have been invited to present their design-ready products, that will be assessed on three verticals - capability, intent and potential to productise technologies. The prospective innovators will have the option of applying their product to any of the 17 identified focus areas that include smart mobility, predictive maintenance of rolling stock and waste management. Once an idea has been shortlisted for AIM, the person responsible will be supplemented with mentorship and incubation facilities as per the requirements of the project. The end goal is to ensure wider deployment for the product. The mission is being implemented in cooperation with five other ministries, including <keyword id="2290680" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Agriculture-and-Farmers-Welfare">Ministry of Agriculture and Farmers Welfare</keyword> as well as the <keyword id="6472060" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-housing-and-urban">Ministry of Housing and Urban</keyword> Affairs. Some of the people at the event will be SS Ahluwalia, Minister of State and <keyword id="125928" type="PERSON" weightage="20" keywordseo="Rajiv-Kumar">Rajiv Kumar</keyword>, Vice-Chairman of NITI Aayog. This seems to be a step forward in an attempt to turn India from an <a href="http://pubdocs.worldbank.org/en/476891464698315724/Philippe-Aghion-PAPER.pdf">imitating</a> nation into an innovating country.

NITI Aayog to open applications for Atal Innovation Mission for MSMEs, startups and inventors in India

<keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>'s investment in technology for the year 2014-15 is an estimated $26 billion comprising of investment in digitization, infrastructural improvements, push for manufacturing and technology in healthcare &amp; agriculture, says a report by market research firm Zinnov. 
 The report, which assesses first 100 days of the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword> and highlights the impacts it has had so far. The new government plans to take digitalization to the next level by implementing the digitalization of agriculture &amp; PDS data, enabling e-governance &amp; m-governance, facilitating the <keyword id="2412665" type="UNKNOWN" weightage="80" keywordseo="National-Rural-Internet-and-Technology-Mission">National Rural Internet and Technology Mission</keyword>, using IT for real time information gathering, and the digitization of all government files, the report states. 
 In the past, the government has engaged multiple MNCs such as <keyword id="10875" type="CITY" weightage="100" keywordseo="IBM">IBM</keyword>, HP and <keyword id="6390344" type="CITY" weightage="80" keywordseo="Cisco">Cisco</keyword> for digitization projects. Digital India, India as the Innovation Hub, Next Gen Infrastructure, Enhance Ease of Doing Business, and Revive Manufacturing - will be executed by a focus on 3S – skill, scale and speed propelled by technology, Zinnov said. 
 
Talent Availability (85,000 Graduates from Top tier Engineering institutes, 1.2 million engineers graduated in 2014) Entrepreneurial Indian mindset (4000+ active technology startups 150 Startup incubators 49 Million SMEs/SMBs operating in India), Strong Democratic Fiber (Well defined electoral processes) and Communication Infrastructure (200 million internet users, 2nd largest number of telecom users) are considered India’s 4 Growth Pillars. 
 
“The stage is all set to create long term sustainable growth and reposition India on the global map with strategies like minimum government, maximum governance; empowering the poor; digital India and relationship building with Asian nations.” said Praveen Bhadada, Senior Director, Zinnov. 
 
Modi’s governance model has a proven track record of being decisive, reform-oriented and business-friendly. The unprecedented mandate and the positive track record have instilled hope for an economic turnaround in citizens and investors, the report said. 
 
Government has defined a 3-pronged strategy to make India an innovation hub. Firstly through enabling skills by the establishment of more premier institutes such as IITs and IIMs and the development of innovation accelerators supported by innovation infrastructure. An innovative ecosystem fosters high quality research. Secondly, giving proximity to customers will accelerate and improve India centric product development. And finally, innovative ecosystem will also allow joint R&amp;D efforts across industries for accentuated product development. MNCs have been leveraging the Indian innovation ecosystem to develop products for the Indian customers. 
 So far, Technology MNCs have played a crucial role in the establishment of next generation infrastructure. The <keyword id="44734" type="ORGANIZATION" weightage="100" keywordseo="Indian-Government">Indian government</keyword> plans to <keyword id="47916" type="UNKNOWN" weightage="80" keywordseo="invest">invest</keyword> $11 billion in the key focus areas to drive the next wave of technology-backed infrastructure growth. The key focus is to create national optical-fibre networks and to build 100 smart cities with high-speed digital highways along with national solar missions and national gas grids.

Government To Create $26 Billion Worth Of Opportunity For Technology Firms

New Delhi, The <keyword id="2200963" type="General" weightage="20" keywordseo="indian-automobile-sector" source="Orion">Indian automobile sector</keyword> has the potential to become an export-led USD 1 trillion industry by 2035, according to a report. The industry can achieve the size enabled by manufacturing, innovation and technology leadership, as per a report by <keyword id="294267" type="General" weightage="50" keywordseo="arthur-d-little" source="Orion">Arthur D Little</keyword>. Arthur D Little Managing Partner (India &amp; South Asia) Barnik <keyword id="17584630" type="General" weightage="50" keywordseo="chitran-maitra" source="Orion">Chitran Maitra</keyword> noted that India's automotive industry can become a global hub for design, development, and production, appealing to international markets. To achieve this, players across the industry must upgrade their capabilities for reliable and competitive global manufacturing, he added. "India's strength in automotive software and ER&amp;D (engineering research and development) can thrive by offering solutions aligned with emerging trends like zonal architecture and Advanced Driver Assistance Systems (ADAS). India has the potential to be an automotive innovation leader, with a thriving well-funded startup ecosystem," Maitra said. This highlights the increasing pace of innovation within the local automotive ecosystem and the shifting dynamics of disruption, which if harnessed effectively, can catapult India into a position of global automotive leadership. The global automotive R&amp;D and software market is expected to grow three-fold by 2030 to USD 400 billion and India can leverage its position as the software hub of the world and offshore destination of choice for such activities, it stated. "Unlocking the true potential of India's automotive sector requires a robust dialogue and concerted actions among all stakeholders, including the government. Together, the industry can drive investments and collaboration, paving the way for India to emerge as a global automotive hub with a USD 1 trillion vision for 2035," Maitra said.

Indian auto sector can become export-led $1 trillion industry by 2035: Arthur D Little

New Delhi, Feb 27 () NITI Aayog supported Atal Innovation Mission (AIM) and Nasscom have joined hands to impart Artificial Intelligence-based learning at Atal Tinkering Labs aimed at empowering students to innovate and create valuable solutions to problems. With an imperative to empower the youngest minds of the country with the latest technologies, NITI Aayog, Atal Innovation Mission (AIM) in collaboration with the National Association of Software and Services Companies (Nasscom) on Thursday launched an AI-based Module rolled out for students in Indian schools, an official release said. The objective of the AI-based module is to leverage the full potential of AIM's ATL and empower students to innovate and create valuable solutions benefiting society at large.The module contains activities, videos and experiments for students to work through and learn various concepts of AI.India can add 1.3 per cent to its GDP on an annual basis through the use of machine learning and artificial intelligence, Amitabh Kant, CEO, NITI Aayog said at the module launch."Indians can find solutions to the challenges of a shared connected zero emission world, improving learning outcomes, disease like tuberculosis, cancer among others. "If we are able to find solutions to these challenges for the 1.3 billion people of India, we can find solutions for the 7.5 billion people of the world too," Kant said.The module will start teaching young children from a very young age, he said, adding "This is path breaking, it combines playing and academics and our job is to make things very interesting. We want to make artificial intelligence a great fun, so that children can enjoy it, they can evolve and learn and take India forward."It has been estimated that by 2030, the global market in AI is likely to be in the range of USD 15 to 15.5 trillion of which India's share will be close to a trillion dollars.Mission Director Atal Innovation Mission, NITI Aayog R Ramanan said AI is going to be an integral part of the new 21st century innovations."We are proud to introduce the Learn-It-Yourself module in all our 5000 Atal Tinkering Labs with over 2.5 million students having access to it. This is the first ever industry government academia initiative on such a scale to keep the school students abreast of latest technologies," Ramanan said.Debjani Ghosh, President, Nasscom, said AI has become a strategic lever for economic growth across nations and will continue to be one of the most crucial technologies of the future. Atal Innovation Mission under NITI Aayog is government's flagship initiative to promote a culture of innovation and entrepreneurship at the school level.AIM is establishing ATLs in all districts across India. As of today, AIM has selected a total of 14,916 schools across the country spread across 33 different states and union territories, for the establishment of ATLs.The AI module introduced to ATL students from February 27. KPM KPM MRMR

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