Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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In 1859, when Charles Darwin presented his famed theory of evolution by natural selection, inherent in its essence was the abiding notion of survival of the fittest. To evolve, compete and do better has been the cornerstone of the survival of any species. This has also helped ensure that countries and societies have created an era that is prosperous and (largely) peaceful than at any other time in history.
Innovation, progressive disruption and the effective use of intellectual property are the new tools of the economy this century. For examples, one only has to look at Israel or Singapore. In the 21st century, they are clear leaders on their strengths in the fields of scientific, industrial and financial innovations. Hence the lessons for emerging markets are clear — the need to innovate and compete globally.
India’s case has been a success story of sorts. From a country that was hardly acknowledged, to becoming a case study in economic reforms, it has done much to improve the health of the economy and its people. As one of the top growing economies in the world, it now stands at the cusp of leapfrogging from an emerging to a near-advanced economy over the next decade. But going forth, many of the paradigms that have held the Indian economy in good stead may not be efficient in the decades ahead. Equally so, providing access to health care, medical technologies and pharmaceutical products for a billion people is still a challenge, with no clear consensus on the best way forward.
Improving the environment for innovation and enhancing competitiveness, especially in areas such as science and technology and health care, will help propel our economic engine of growth and improve the health indices of citizens. In an emerging environment of protectionism and the rise of the anti-globalisation movement, the need to innovate and compete will become even more important. Advanced western economies, with low single-digit growth rates, are now resorting to protectionist measures. What is troubling is that matching voices are being heard within emerging economies like India. The more prudent step would be to enhance capabilities to innovate rather than merely adopt as this changing global mood becomes more perverse. The answer lies in creating a knowledge and information technology-based, intellectual property-focussed and entrepreneurially-led economy — or a KITE economy as it were.
Source : https://www.thehindu.com/todays-paper/tp-opinion/a-kite-for-india/article24606169.ece
