To thrive and excel in today’s competitive environment, innovation, knowledge generation with value addition and translational research are the new mantras, said NITI-Aayog member V.K. Saraswat on Saturday.
Delivering the 21st convocation address at the National Institute of Technology (NIT-Warangal) here, Mr. Saraswat said, “Innovation has the power to transform societies, economies and quality of lives. India has a long and rich history of innovation from ancient discoveries in mathematics, astronomy and other sciences.”
Though India is currently ranked 40th out of 132 countries on the global innovation index, in the quest to become the global innovation, entrepreneurship and technology hub, India faces several challenges, most notable of which is the lack of access to capital and the dearth of a robust ecosystem for intellectual property protection, he noted.
