India has been projected as the only economy that will grow in double-digit i.e. 11.5 per cent in 2021.
As we have seen, the challenging 2020-21 has made us realize the importance of adapting and adopting the latest technologies to drive the economy forward. To enable us to be future-ready it is important to expand on policies and programs like the National Program on Artificial Intelligence.
There should be more focus on various constituents of Industry 4.0 like robotics and automation, digital manufacturing, AI among others where India is lagging behind many of its global peers when it comes to both innovations in the areas as well as their adoption across sectors.
The need of the hour is well-thought-out policy formulation to support and nurture unified support systems and comprehensive eco-systems that will bring together stakeholders across academia, research and development, and industries.
This will accelerate the translation of investment and innovation to value generation and impact creation.
The expectation from the Finance Ministry during the Union Budget announcement on February 1 is to support various stakeholders who are driving the mission - “Futuristic technologies to enable the Atmanirbhar Bharat vision“ by framing favourable policies, providing grants and strategic investments.
(The author is the Chief Executive Officer of Inker Robotics)