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Prime Minister Narendra Modi on Sunday said the journey to a Viksit Bharat will move forward hand in hand with Digital India, and the next big priority will be becoming self-reliant in technology.
Inaugurating as well as laying the foundation stone of metro projects worth around Rs 22,800 crore in Bengaluru, Modi said India is now racing towards becoming one of the top three economies. According to the International Monetary Fund (IMF), India is expected to become the fourth-largest economy in 2025 and the third-largest by 2027-28. India is aiming to become a developed nation by 2047, the 100th year of Independence.
Push for Homegrown Technology and Innovation
“Our next big priority should be becoming self-reliant in technology”, Modi said, highlighting that Indian tech companies have made a mark globally, developing software and products for the entire world. He stressed that it is now time to prioritise India’s own needs more strongly and must accelerate the development of new products, especially as software and apps are now being used across every domain.
Calling for focused efforts to lead in emerging fields, he urged that India’s products must adhere to the ‘zero defect, zero effect’ standard, meaning they should be flawless in quality and have no negative impact on the environment.
To bolster India’s research and innovation ecosystem, the Cabinet last week approved the Research Development and Innovation (RDI) Scheme with a corpus of Rs 1 lakh crore to support sunrise domains, finance technology projects, acquire technology and set up deep-tech fund of funds.
Role of Private Sector and Legal Reforms
Recognising the critical role that the private sector plays in driving innovation and commercialising research, the RDI Scheme aims to provide long-term financing or refinancing with long tenures at low or nil interest rates to spur private sector investment in RDI.
Modi stated that whether it is the central government or state governments, all are committed to serving the people, emphasising the need for collaborative efforts to improve the lives of citizens. He highlighted that a key responsibility in this direction is the implementation of new reforms.
While the Centre has passed the Jan Vishwas Bill to decriminalise laws and announced that Jan Vishwas 2.0 is also being introduced, he encouraged state governments to identify laws with unnecessary criminal provisions and work toward eliminating them.
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