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06/12/2018 - Indian Economy

iasparliament
December 06, 2018
9 days
155
1

India needs a fundamental change in the national innovation system to increase the share of GDP in manufacturing sector. Examine (200 Words)

Refer - Business Standard

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IAS Parliament 8 days

KEY POINTS

Manufacturing as a share of output for India is around 15%, and hasn’t improved even after implementation of Make in India Scheme.

Changes needed to improve manufacturing sector

·       Robust industry academia interface across country with help of organizations like Biotechnology Industry Research Assistance Council.

·       Quality Indian firms with skill capabilities to address market demands in every sector.

·       Reaping the demographic dividend by imparting the necessary skills to the youth via vocational educational training

·       Strengthening of Intellectual property laws to boost Research and development in India.

·       Research-intensive higher education institutes must provide a higher standard of graduates.

·       Effective implementation of KIRAN (Knowledge, Involvement, Research, Advancement through Nurturing) to absorb more women scientists in to the research field.

·       Combination of trade policy and firm strategy must push firms overseas, deploying their technical capability worldwide.

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