RT team
India stands at a critical inflection point in its technological innovation journey, experts highlighted during a panel at the India Global Innovation Connect held in Bengaluru. The discussion underscored the nation’s readiness to enter a new era of growth, especially post-COVID-19, a time marked by diminishing geographical barriers and a surge in global talent mobility. Avinash Vashistha, chairman and CEO of Tholons, pointed out that the pandemic significantly shifted tech jobs towards India, capitalizing on its robust talent pool.
In 2023, as artificial intelligence began reshaping job landscapes, pushing redundancy in traditional roles, there was a noticeable push towards innovation, according to Vashistha. Echoing his sentiments, TV Mohandas Pai, former Infosys board member and chairman of Aarin Capital India, emphasized the need for enhanced investment in startups and R&D to sustain this growth. He also highlighted a gap in the patent culture among Indian innovators, who often register their patents in the US rather than in their home country.
The panel unanimously recognized India as a burgeoning global innovation hub. This recognition is bolstered by the expansive growth of its Digital Public Infrastructure, which encompasses payment systems, identity verification, and data management, coupled with the nurturing of engineering and research talent. Furthermore, the rise of a vibrant startup ecosystem, now ranked among the top three globally, cements India’s position on the world stage of innovation.
