Innovation to hold the key to India’s future growth


Recently, Dr. Ashok Jhunjhunwala, Professor, IIT Madras (Advisor-Ministry of Power) took us through the lessons from IITM, the inception of IITMRP and the challenges India must face for a self-sustaining future.

During the session, Dr. Jhunjhunwala stated that in the next 25 years India’s GDP is expected to grow from 6% to 9%. The country’s major strength is its population, which represents a tremendous pool of ability. He further added that one of the key advantages is the large market at reasonable prices and that multinational firms must set up manufacturing facilities that can keep up with rapidly changing technology in order to explore industry opportunities.
Mr. Pradeep Sureka, President of ICC & Director in charge of the Real Estate Division of the Sureka Group said “India must concentrate on positive goals. Since 1991, the economy has grown at a rate of 6.5 times per capita GDP, education has improved since the 1980s, with 95% of children attending schools.” Further Mr. Rajeev Singh, Director General of ICC stated that “To enable early gains, we must work on areas such as the Internet, IT, and Stimulators.” Lastly, Dr. Jhunjhunwala concluded the session by quoting, “Young people have the capacity to alter our country, therefore we must educate, motivate, inspire, and empower them, as well as connect them to Indian ideals of simple living and worship.”

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