Growing market

23 May 2023

Today, not only in India but across the globe economies are driven by innovation. It has become the driver of progress and prosperity. The dimensions that innovation has achieved across the lengths and breadths of human race, is a success story in itself. One of the prime examples of this is a statement made by Yuval Noah Harari, a historian, philosopher, and the bestselling author, who argues,

"For scientists, death isn't a divine decree - it is merely a technical problem. Humans die not because God said so, but because of some technical glitch. The heart stops pumping blood. Cancer has destroyed the liver. Viruses multiply in the lungs. And what is responsible for all these technical problems? Other technical problems. The heart stops pumping blood because not enough oxygen reaches the heart muscle. Cancerous cells spread in the liver because of some chance genetic mutation. Viruses settled in my lungs because somebody sneezed on the bus. Nothing metaphysical about it. And science believes that every technical problem has a technical solution."
This probably explains the nature of innovations at its best, where death is being termed as a technical glitch. Even, otherwise also, with each passing day innovations are bringing positive change to the people and is fostering the new age progress of the society. However, it does not satiate the desire of the human race to keep craving for the unimaginable and unthinkable. This clubbed, with the need to create a sustainable world in the times when the natural resources are depleting at an extremely dangerous rate and the population is increasing rapidly, innovation becomes all the more a necessity.

India today is home to around 17 percent of the world population, only next to China, with a growing economy and huge entrepreneurial potential waiting to be tapped. We are on the cusp of change, where the Start-ups and businesses based on innovation are making an enormous impact globally. In the last few years, more than 37 unicorns have come from India, which as a number is not only promising but also encouraging. Entrepreneurship is adopting innovation as the economic model which is sustainable for the foreseeable future. Therefore, there is a huge market for innovations. India has unleashed the power of innovation to and improve the living conditions for billions of people. The social change which the innovations have brought, right from the beginning of times, as much as the history tells us, we have come a long way. From being hunters and food gatherers to becoming agriculturists and growing our own food. And it did not stop there, with the invention of the wheel we laid foundation for the industrial revolution which has brought an immense change to the way we live. Today, the society is run by the vast information and data in the cyberspace, which has an over all effect on the life of every organism in this world. With every innovation, technology is becoming independent and efficient, having an impact on social structure, breaking the walls of economic and social differences as well as creating medical technologies to overcome the issues, which we find no answer to today, thus furthering the progress of the society. innovations, which necessarily One of the most innovati is not true. They can be even days is the telecom indu incremental improvements providers as well as the over the existing systems in phones have been riding existence. However, these clearly indicates that the innovations have the impact building block for the mo

The modern world today at its core has innovations. While the widely accepted notion about innovation is that high end research and development goes in to bringing out these making ability across the value chain of any product or service being offered. Be it in the product development, the marketing reach out, the branding or the last mile reach in the logistics sector, all of these qualify for being called an innovation. The Global Innovation Index (GII), every year ranks the world economies based on their innovation capabilities. The study is based on the 80 different indicators, capturing the multi- dimensional aspects of innovation. In this sphere, India has shown a lot of improvement over the last three years jumping from 57th rank among the 131 participating nations to 48th rank in 2020. The various statistics that have emerged over the years, which notably signify innovation. is being taken up by various industries and firms across the country. Being one of the fastest growing economy and an emerging market to the world. It has become an important destination for investments. Therefore, an easy opportunity for all and any kind of innovations impacting the large chunk of population, both for the quality of production as well as the scaling-up. The ability to adapt to the changing markets remain to be at the core of the industries today, which anticipate the technologies and demographic trends. As such, it has become inevitable to offer cutting edge technologies at affordable prices, thus leading to the economic competitiveness, which is one of the major strengths of India as nation, today.. However, the thin line between affordability and aspiration must be maintained, the lesson we learned from Tata. So, the difficulty the brand had to face while they were trying to sell the car as the cheapest in the market as against selling the features of the car, eventually led to diminishing the brand value of Nano. industries we have these y, where both the service anufacturers of the mobile horse of innovation. This ange is inevitable and the in world.

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