India has always been a hub of science and technology for centuries. In ancient times, it was referred to as Natural Philosophy. It was studied in higher learning institutions. At the beginning of the 1990s during the correspondence of the Indian Renaissance and the struggle for independence, the Indian scientists had made big strides. This innate endowment of creative performance in science was supported by the institutional setup and the state. It was mainly done after the independence of India in 1947.
Since that time, the Indian government has left no stone unturned for building a modern infrastructure of science and technology in the country. The Department of Science and Technology was the main head concerning the promotion of science and technology in India.
Position of India:
In the entire world, India’s rank is third as the most interesting destination for investment in science and technology. The Union Minister of Department of Science and Technology, Dr. Harsh Vardhan restated that technology is a solid area to be prioritized for the government. The objective is to make people science-oriented.
Modern India:
India is currently concentrating strongly on science and technology with the realization that economic growth is dependent on it to a great extent. In the area of scientific research, India lies among the topmost countries worldwide. In the matter of space exploration, India is among the top five nations. The regular undertaking of space missions is pursued which includes the mission to the moon. Another famous mission was the Polar Satellite Launch Vehicle (PSLV). India is probably set to grasp the main role in satellites launching for the SAARC nations that will generate revenue as other countries are offered to use India’s space facilities.
The size of the market:
In the field of scientific publications, India ranks 6th. For patents involving the resident applications, India ranks 10th. In 2017 at the Nature Index, India got 13th position which was concerning the counts of the eminent quality research productions in the area of Natural Sciences. India ranked 60th in 2017 at the Global Innovation Index. India became the third-largest technology startup nerve center in the world by adding 1000 new companies in the single year 2017.
The market of engineering research and development in India may rise at a CAGR of 20.55 % for touching the US $ 45 billion by the year 2020. India is progressing towards becoming sovereign in nuclear technology.
The current developments:
The government records say that there is an increase in the number of Indian scientists who are returning to India for the sake of research opportunities. The number was 243 in between the years 2007- 2012 to 649 in between the years 2012 -2017.
The space business of India is set to experience good growth. There is a positive rise in global space business opportunity, and satellite launch capability of the Indian Space Research Organization.
The investment:
GridRaster Inc that is operative in the virtual and augmented reality space has succeeded to raise US$ 2 million in the form of seed funding that will be further utilized for product and marketing development.
The research and development investments of India are supposed to expand to US$94.06 billion approximately this year that is 2019.
Initiatives of the government:
The Union Cabinet has approved the application of the Prime Minister Research Fellows Scheme (PMRF) in February 2018. It is set to promote the objective of bringing development through innovation at an entire cost of Rs. 1,650 which is the US $ 245.94 million for the seven years starting in 2018-2019.
An announcement has been done by the Union Government of India in February 2018 concerning a grant of Rs 1,000crore which is the US $ 155.55 million for the second phase of IMPRINT (Impacting Research Innovation and Technology). It is a fund generated by the both Department of Science and Technology, and the Ministry of Human Resource and Development.
A grant was given by the Government of India to the Atal Innovation Mission a sum of US $ 24.84 million that is supposed to augment the entrepreneurs, academicians and the researchers to work in the light of innovation.
In the previous year that is 2018 July, Atal Innovation Mission and MyGov jointly launched Innovative India Platform with the mission of bestowing a common point for the entire happenings all over India.
India is progressive towards establishing itself as the captain in the development of technology and industries. There is a significant development in the sector of nuclear energy. It is expected that nanotechnology will transform the pharmaceutical industry of India. The government is heavily doing investments for the Green Revolution that is driven by technology. By 2022, ISRO will launch the very first Indian human mission.
