India@100: A digitally-powered and sustainable innovation hub

Context:  As we are celebrating the Azadi Ka Amrit Mahotsav on the commemorate 75 years of independence. Undoubtedly, India has made significant positive change in this 75 years journey of independence however there are still certain areas which are not truly realized in order to fulfil the dreams of our founding fathers of the nation which are going to be completed in upcoming time.

Vision for India in the 100^th year of its Independence:

Unleash the power of innovation to ensure a better life for all its citizens

• It is achievable by investing in innovative ideas and embracing entrepreneurship as an economic model of growth.
• Research and innovation, fuelled by technology, will catalyse the kind of non-linear growth that will make the country one of the world’s top three economies and bring it closer to developed nation status by 2047.
• In the direction of it, government has identified research, innovation, and technology as the key drivers of its VisionIndia@2047 and is making significant investments in these areas.

Role of Digital technology in realization of 2047  objectives/ ideas.

• Significant growth in areas of economy: Digital and data-backed innovation combined with ubiquitous and affordable internet will help India build a robust digital economy of the future.
• Better outcomes in scientific research and Healthcare system: The efficient use of digital technology will amplify the India’s value advantage and scientific excellence.
• Technology-led innovations will help India in rapid growth of healthcare system to the next level. Thus, it will help us build a national healthcare system, which is accessible, organised, accountable, affordable and, thus, resilient.

Changing health system to digital based healthcare system:

• Government has brough digital health sectors such as National Digital Health Mission, Ayushman Bharat Digital Mission (ABDM) to make healthcare-related regulations more flexible.
• The developments during COVID-19 pandemic have persuaded doctors to become tech-savvy and prompted the healthcare industry to invest in user-friendly digital solutions.
• These created a fertile environment for the emergence of low-cost, technology-led, and scalable innovations anchored in affordability and accessibility.
• Therefore, in order to reap the full benefits of this digital disruption of healthcare, India will need to coordinate policymaking, funding, and implementation.

However, currently healthcare investment by government accounts nearly 1.5 % GDP which is lower than developed nations—the US (16.9%), Germany (11.2%), France (11.2%) and Japan (10.9%)—spend even more.

Therefore, the government need to raise public spending on healthcare to 2.5 per cent of GDP by 2025. India must aspire to raise healthcare spending to 5 per cent of GDP by 2047 to truly deliver standardised and quality universal healthcare.

India’s vision in Pharmacy sector:

• The focus should on emerging opportunities across novel biologics, biosimilars, cell and gene therapies, high-end contract research and manufacturing services, mRNA etc, in the next 25 years, India is expected to capture a higher share of the pharmaceutical value chain which is amount grow from the current $50 billion to $500 billion by 2047 and rank among the top five countries in value terms and No. 1 in volume terms.
• The vision of achieving the $500 billion trajectory lies in our abilities to pursue cutting-edge research and innovation, conduct global-scale operations, and create a robust regulatory system.

The vision of 2047 is incomplete without active participation of women:

• As a nation, we must give women the opportunities and freedom to engage in productive work in the economic mainstream and liberate them from the shackles of unpaid labour.
• While Female participation in the formal labour force in India is currently estimated at a dismal 24 per cent which is one of the lowest among developing nations.
• It is estimated that the Indian economy could grow by an additional 60 per cent by 2025, adding $2.9 trillion, if women were represented in the formal economy at the same rate as men.
• Therefore, in order to realization the vision of 2047, India need to provide equal opportunities to its women, needs to focus more on women-centric programmes aimed at ensuring their education, health, economic security, safety, and fundamental rights.
• We must aim to raise the level of women’s participation in the formal sector to 50 per cent by 2047.

Realization of growth as a sustainable growth in future:

• By 2047, India needs to have fully integrated environmental sustainability in its growth models by focusing on renewable energy and reducing waste, effluents, emissions, and consumerism; and following the 3R s principles Reduce, reuse and recycling.
• Based on India’s commitment for environment protection such as Panchamrit in Glasgow summit, INDC goals to counter climate change and National Action Plan for Climate Change, India is moving towards the green economy transition phase.

Conclusion:

Therefore, by creating a digitally empowered society and knowledge economy that is transparent, efficient, and economically inclusive will enable India to emerge as the third largest economy in the world and a true global power by the 100th year of its Independence.

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Source: Indian Express