India's Economic and Technological Transformation
Over the past decade, India, under the leadership of Prime Minister Narendra Modi, has seen significant transformation across economic, technological, and strategic domains. This evolution is driven by the vision for India to be not just a major economic power, but also a strategic and technological leader in the 21st century.
Key Initiatives and Policies
- Make in India (2014):
Initiated to transform India into a manufacturing powerhouse, improving the ease of doing business, and attracting both domestic and foreign investments. - Atmanirbhar Bharat Abhiyan (2020):
Aimed at making India self-reliant and reducing dependence on imports in strategic areas such as defence manufacturing, electronics, and semiconductors.
Industrial and Innovation Growth
- Global Innovation Leader:
India has emerged as the world's third-largest startup ecosystem with significant contributions in fintech, agritech, health tech, and edtech. - Defence Exports and Manufacturing:
India's defence exports reached ₹23,622 crore in FY25, with expectations to touch ₹50,000 crore by 2029. The private sector's contribution stands at ₹15,233 crore.
Strategic Partnerships and Global Engagements
- Collaborations:
Initiatives like the U.S.-India TRUST and the India-France road map enhance cooperation in AI, quantum, and defence technology. - Operation Sindoor:
Demonstrated India's capability to use indigenous defence technologies effectively, underscoring its transition from an arms importer to a producer.
Technological Leadership
- Critical Technologies:
Investments in AI, quantum computing, biotechnology, and space systems are critical to maintaining strategic security. - National Quantum Mission and Semiconductor Mission:
Positioning India as a hub for advanced research and technology development.
Role of Industry
- Building Hi-tech Capabilities:
Industry is pivotal in areas like semiconductors, clean tech, next-gen mobility, and defence. - Collaboration and Innovation:
Encouragement for industry to increase investments in R&D, forge overseas partnerships, and collaborate with academia and public research institutions.
India's Future Vision
India is at a defining juncture, poised to shape the future with its economic resilience, manufacturing strength, and innovation-led growth. The vision is a strong, secure, self-reliant, and globally respected India, with industry playing a crucial role in achieving this goal.
