Innovation Drives Growth Beyond Basics

Middle-income countries like India face significant challenges in achieving further growth due to the diminishing effectiveness of previous simple solutions. Competing globally now requires embracing advanced technologies and rapid innovation, which necessitates considerable investment, skills, and supportive policies. Unlike the past, when countries like China and Korea prospered through globalization and export-driven growth, current protectionist trends limit similar opportunities for India. To overcome these hurdles, it is essential for India to focus on infusing and adapting advanced technologies throughout its economy, fulfilling the need for a transformative growth strategy.