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Why tech intervention is a critical need for economic growth

Titled 'Focused interventions for Make in India Post COVID-19', the paper also calls for the promotion of import substitution and indigenous innovation in association with academic institutions and research centres and collaboration with Incubation mentoring platforms from Germany, USA etc

twitter-logoJoe C Mathew | July 14, 2020 | Updated 20:17 IST
Why tech intervention is a critical need for economic growth
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Key Highlights:

  • Identify 10 blockbuster technologies, coordinate with all research institutions and pilot the technologies in the field
  • Evolve technology platforms in solar technologies, e -vehicle, agri-processing, in association with Israel, Japan, Germany
  • Focus on high value medical products that are currently imported and facilitate clinical trials, regulatory compliance.
  • Develop affordable technologies for rural areas, onsite agri-processing, hydroponics, aquaculture and mobile test centres

A white paper published by The Technology, Information, Forecasting and Assessment Council (TIFAC) has called for creation of technology clusters across the country for homogenous job creation. It has also stressed on the need to identify technologies in India's champion sectors to provide segment wise solutions.

The recommendations are part of an 11-point agenda brought out through the white paper. TIFAC is an autonomous body under the Department of Science and Technology. It was launched by Dr Harshawardhan, Union Minister of Health and Science and Technology.

The paper states that the implementation of the suggested policy changes will accelerate India's economic growth using technology and strengthen the country's self reliance through make in India initiatives in the post-COVID days. It calls for an incubation start-up highway and wants India to build a monetisation exchange Technology and a Technology Startup Exchange.

Titled 'Focused interventions for Make in India Post COVID-19', the paper also calls for the promotion of import substitution and indigenous innovation in association with academic institutions and research centres and collaboration with Incubation mentoring platforms from Germany, USA etc.

In addition to broad recommendations, it captures sector-specific strengths, market trends and opportunities in five sectors - Healthcare, Machinery, ICT, Agriculture, Machinery & Manufacturing and Electronics. The focus areas of the underlying policy options have been projected to include Public health system, MSME sector, Global relations,  FDI, recalibrated trade alignments, new age technologies, etc.

At this juncture, it is quite crucial and pertinent, to redefine our priorities based on our strength and enhanced capacities and further plan fundamental changes the way we act to evolve our new business models to support and strengthen our economy. This document is an attempt to suggest new models for recovery of Indian economy, post COVID-19. The design of recovery curve, post pandemic, is based on our national priorities and technological strength. The road to national economy recovery would traverse through measures like policy support to unconventional strategies, leveraging into new international partnerships in important sectors of Agriculture, Electronics, Health, ICT and Manufacturing and providing new technology stimulus.

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