A Yearning Ought To Innovation

A Yearning Ought To Innovation

A country swarming with a population of 1.38 Billion (as per UN data during mid year estimation) corresponding to 17.7% of the total worlds population, in which 50% are pinned under the age of 25 years and 65% below the age of 35. A country that is acknowledged for its historic archival inventions like Ayurveda, Spinning Wheel, Crucible Steel, Hindu Number System, Cataract Surgery, Ancient Dentistry, Mathematical Zero, Brahmagupta–Fibonacci identity, Brahmagupta theorem. A country that yields 1.5 million Engineer’s per year from 6214 Institutes, is still crawling in a race for the Fittest Innovative Power House.

But why?
Before we move to the corpus of this topic, let us first construe, ‘what is innovation & why do we need it??’, Innovation by definition is an act of introducing a new idea, technology or a method, to stabilize the negative impacts or to get a primacy over the existing one. The compulsion of innovation can only be understood after analyzing its fundamental outcomes and their impact on the society. The biggest foremost outcome as per the social vista is Economic Growth, followed by Increased Well Being, Educational Accessibility and Environmental Sustainability. Economic Growth which is the biggest global concern and most desired for ontogeny, can be elucidated as an increase in the production of goods and services, compared from one period of time to another or in simple words an increase in aggregate production in an economy, that leads to an increase in incomes, which means higher standard of living.
If we prospect through the emanation or transformation of some of the biggest economies of the world like US & China, we can easily spell out the strong impact of innovation that lead to revolutionary boom on a chain of growing economy. Undoubtedly, there was an economic u-turn with industrial revolution in the fourth quarter of 19th century in America also known as ‘Gilded Age’ but, its concretion took place at the end of First World War. While Europe was still rebuilding and striving against poverty, chaos and rise of fascism, the best of their brains like Hans Bethe, Albert Einstein, Enrico Fermi, Leó Szilárd, Edward Teller, Felix Bloch, Emilio Segrè, John von Neumann fled to America, transporting experience, knowledge and formulas of innovation with them. Since then, the elegance of America(US) to hold the market with new ideas is still intact and beyond question its grooming ramp for innovation has made it the best in Space, on Sphere and under hydros. It is because of their valuable perception for innovation US and China alone contributes nearly 1 trillion US Dollar’s for gross Research and Development that is nearly 50% of the global R&D expenditure.
So why isn’t India able to cope up with the new tactics to boost up its mode of innovation?? Despite of being a 5th largest economy by nominal GDP we shall not flee the fact that a majority of its disbursement goes to foreign, whether it be in buying military equipment from Russia, US, France, Israel or electronic equipments from China. There are many reasons as such, but some of the most fundamental reasons that have hog-tied the intellectual capacity, can be rationalized as: Education System, Impact of Foreign Employment on Human Resources, Fear of Taking Risks.
Education System: In India education has a very diverse meaning. It is a pipe dream for exhibition of degrees, followed by a job, succeeded by a marriage. It is because of this accentuation, students are tied up in knots to ectype reading and ectype writing, rather reforming their skills and ideas. In a system where the flair of a student is esteemed on the parameter of percentage in examination, is in grave need of reforms and changes. A reformation that will promote the practicality and visualization upon theoretical dogma. With a spending of 3% of its GDP, India ranks 62nd in total public expenditure on education per student and measures of the quality of education, that is quite low in terms of other expenses.
Impact of Foreign Employment on Human Resources: If we look transverse at some of the key positions at Global IT power houses like Google, Microsoft, Cisco, Nokia Solutions and Networks, what we will perceive is a mounted loss of adept intellectuals (cream) to foreign companies. Every year hundreds and thousands of skilled youth goes abroad admiring for better job opportunities. As per a study and a survey it has been estimated that more than 50% of Indians are looking to take up a job in abroad, where more than 40% cited salary as the main motive, others verbalize it as a conculsion of lack of opportunities and anemic employment law enforcement. With such a colossal lose of intrinsic resources at such a consistent pace, the conventional growth in terms of research and development is barely feasible. At 0.7% of its GDP, India’s R&D expenditure in science is less than BRIC nations and far lower compared to Israel(4.6%), South Korea(4.5%), Japan(3.2%), Germany(3.0%), USA(2.8%), France(2.2%), UK(1.7%), and Canada(1.6%).
Fear of Taking Risks: As a part of cultural code of belief, a majority of Indians cobble up a frame for highly potent qualification, a pulm payroll Job and a well timed marriage. In this frame of life, the fear of taking risks to go against the dogma upsurge to a large extent. It is beacuse of this phobia, a large chiffer of ideas grow dim. Stuck in between the rich and the poor, the middle class in India is mostly prone to this phobia. Even if we look at some big farmed IT companies, they put just about 3% of their turnover into R&D where as in other mediocre income countries the figure is about 11%. The prime reason can be presumed from the fact that shows a total imbalance between the risk management and federal support. The list of the companies that fall flat in the past two decades is quite extensive, adding current crisis the forecast seems to be quite pessimistic. Under such a posture the executive action of State to restore the confidence of entrepreneurs plays a vital role.


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