Innovation

The Cabinet on Monday approved the continuation of Niti Aayog's flagship initiative Atal Innovation Mission (AIM), with an enhanced scope of work and allocated budget of Rs 2,750 crore, till March 31, 2028. According to an official statement, AIM 2.0 is a step towards Viksit Bharat that aims to expand, strengthen, and deepen India's already vibrant innovation and entrepreneurship ecosystem. The statement said while building on the accomplishments of AIM 1.0, such as Atal Tinkering Labs (ATL) and Atal Incubation Centers (AIC), AIM 2.0 marks a qualitative shift in the mission's approach. "Whereas AIM 1.0 involved implementing programmes that built new innovation infrastructure to strengthen India's then-nascent ecosystem, AIM 2.0 involves piloting new initiatives designed to fill gaps in the ecosystem and scaling successes through central and state governments, industry, academia and community," it added. AIM 2.0 is designed to strengthen India's innovation and entrepreneurship ...

They emphasised the need for collective innovation to build a robust infrastructure, including electrified buses and smart mobility solutions

India's global capability centres (GCCs) are projected to become a $100 billion industry by 2030, employing over 2.5 million professionals, according to industry data

India global leader in downloads for apps powered by AI, says company in annual ranking

During a panel discussion on young leadership at the 11th SBI Banking and Economics Conference, young CEOs explored strategies to future-proof Indian enterprises

BS BFSI Summit: While compliance requires significant investment, it does not impede industry progress, said CTOs and CEOs as they discussed the role of regulation in India

We have 50 different teams, each pursuing separate goals, which allows us to innovate and launch new products, said Shashank Kumar, co-founder and managing director of Razorpay, at the BFSI Summit

In the last four years, large Indian conglomerates like the Reliance Industries, the Adani Group, Dr Reddy's Laboratories (DRL), and Bank of Baroda have established GCCs locally

Ananya Narang discovered instead a virtual receptionist managing all guest services remotely, which she described as her own 'peak Bengaluru moment'

India also has its share of both large tech companies and large national laboratories, but why is it that these don't seem to be at the forefront of any innovation news headlines?

India climbed one place to 39th rank out of 133 economies in the Global Innovation Index (GII) 2024 rankings, according to a report by the Geneva-based World Intellectual Property Organization. Last year, the country was ranked 40th. "India rises to 39th position among 133 global economies in the Global Innovation Index 2024," Commerce and Industry Piyush Goyal said in a post on social media platform X. India's innovation landscape continues to flourish, powered by our innovators and entrepreneurs, he said. The consistent improvement in the GII ranking is owing to the knowledge capital, vibrant start-up ecosystem, and the amazing work done by the public and private research organisations. The GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries. Switzerland, Sweden, the United States, Singapore and the United Kingdom are the world's most innovative economies, while China, Turkiye, India, Vie

Goa Chief Minister Pramod Sawant on Wednesday inaugurated the Goa University Research Park Unit (GURU) initiative under the UniGoa Knowledge and Innovation Foundation and distributed the sanction letters to teams under the Hand Holding and Start-Up Scheme 2023-24.Taking to social media platform X, Sawant informed that the GURU initiative had provided an investment of Rs 12.85 crore to establish state-of-the-art facilities and equipment to support young innovators.He further said that the initiative symbolises the knowledge and mentorship that will propel Goa's advancement in biotechnology, healthcare, information technology, and electronics innovation."I am glad to inaugurate the Goa University Research Park Unit--GURU (UniGoa Knowledge and Innovation Foundation) and distribute the sanction letters to teams under the Hand Holding & Start-Up Scheme 2023-24. The event was graced by the presence of Vice Chancellor Shri Harilal Menon, Education Secretary Shri Prasad Lolyekar, and ...

The success story of a few dozen firms could fire Indian industry to build proprietary technology and deploy it worldwide

Biocon Chairperson Kiran Mazumdar-Shaw on Thursday called for more investment in research and development to drive innovation and foster culture of intellectual property. She highlighted how the country, already the world's largest exporter of generics and a major player in vaccine production, can achieve greater value by nurturing innovation. Mazumdar-Shaw called for a shift in focus toward value creation through innovation. "India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and foster a culture of intellectual property to capture greater value," she said. Addressing a session during the Global Bio-India 2024 event, she positioned the country as a future global leader in biosciences and innovation. Mazumdar-Shaw emphasized India's unique advantages in becoming a global bio-innovation hub, citing the nation's rich scientific talent, robust technological capabilities, and entrepreneurial drive. "Biology is not only the most exciting and ...

Government think tank Niti Aayog has invited expressions of interest (EoI) for undertaking research on India Innovation Index. The index is envisaged to encourage states/UTs to examine and improve their innovation environment and performance, which could further lead to improvement in India's overall innovation performance. It is designed as a holistic tool which can be used by policymakers across the country to identify the challenges to be addressed and the strengths to leverage when designing the economic growth policies for their regions. The India Innovation Index is calculated as the average of the scores of factors under 'Enablers' and 'Performance'. Enablers are the factors that underpin innovative capacities, grouped in five pillars -- human capital, investment, knowledge workers, business environment, and safety and legal environment. The Performance captures benefits that a nation derives from the inputs, divided in two pillars -- knowledge output and knowledge ...

Global agricultural company Syngenta considers India one of its most important markets worldwide with a strong focus on bringing innovation to Indian farmers and enhancing food security, according to CEO Jeff Rowe. In an interview with PTI, Rowe highlighted the unique challenges and opportunities in the Indian market. "The rapid growth of the market is both a challenge and an opportunity. While it brings some hurdles, the opportunities far outweigh the challenges," he said. Syngenta's offerings are tailored to meet the specific needs of Indian farmers. "We have some of the best new products that we are bringing to the market. As a global company operating in over 100 countries, we prioritize bringing our innovations to India early," he stated. The company's expansion plans in India focus on introducing new production practices for more sustainable, effective, and profitable farming. Rowe sees potential across India but noted the northern region's importance as the country's ...

These strategic appointments include Rahul Lodhe as the Global Head of Engineering for SAP Business AI Copilot Joule and Sudhakar Singh as the Chief AI Security Officer

The council will also have representation from NITI Aayog, the Indian Statistical Institute, and the Department of Science & Technology (DST)