Dr Jaipal Singh
Skill is the ability to do something well through learning, practice, and experience. Innovation is the process of creating new ideas, methods or products to improve the existing ones. Innovation comes from creativity and thinking differently to find better solutions. Strengthening both skill and innovation will drive technological advancements and fuel economic growth.
Countries having developed skills and urge to further enhance them as per demand of the market have made them technologically stronger and economically powerful in the world. These countries do not merely make claims but take action as per their will and requirement that shapes the world.
India too is moving on the path of progress since Independence but even then our country is lagging behind economic giants like the U.S., China, Japan, and Germany. As of 2024(Wikipedia data), India holds the fifth-largest economy ($4.27 trillion), behind the U.S. ($30.34 trillion) and China ($19.53 trillion). Russia, at 11th place, has a marginal (current) GDP of less than $2.2 trillion.
Now, to bridge this huge gap, India has to prioritize its needs and goals. Needless to say, we had made a tremendous progress in every sector but yet fail to compete the exponential growth of economy of many leading countries of the world. It’s a bitter truth. We must accept it and work hard, firstly, to attain self sufficiency and secondly to become a potential exporter in major sectors than importer in various sectors. This is feasible only if demand oriented new skills are identified, developed and incorporated for modernizing industries of different sectors.
India is far behind, in the advancement of many skills, innovations and technological developments, in most of the sectors. We must accept this hard reality. The reasons may be one or many, but the undeniable truth is that mastering diverse skills is the only way to navigate emerging geopolitical crises and compete in the global market for wealth and power.
A nation can become self-reliant only when its industries are competitive globally, ensuring profitability while maintaining innovation and expansion both nationally and internationally. So our fore most focus should be on skill development, innovation and enrichment in technology advancements as per the need.
Since India stands at a crucial juncture where quality skills, entrepreneurship, and the utilization of modern technology can transform industries into highly profitable ventures. By adopting time-saving, cost-effective and demand-oriented skills, businesses can develop and grow in the international market. The key lies in creating unique, attractive and high-quality products that appeal to consumers while ensuring affordability.
India can sustain long-term economic growth, create millions of jobs and strengthen its position as a leading global economy by nurturing an entrepreneurial mind set among youths, promoting financial literacy and making strategic investments in infrastructure and digital transformation.
It is well said that a robust economy demands continuous innovations, ultra modern skills, industrial expansion and dedication of youth in strengthening India’s global economy. The New Education Policy (NEP) 2020 is a crucial step in fostering skill-based learning, improving employability, and increasing global competitiveness. Strengthening research institutions and investing in cutting-edge technologies such as artificial intelligence, quantum computing, space exploration and local manufacturing will propel India’s economic growth and global standing. Encouraging scientific research and technological advancements in sectors such as healthcare, infrastructure, and cybersecurity will further solidify India’s economic position.
All our dreams shall become true if skill acquired by the individual is not for the sake of skill in papers only i.e. acquired skill must be real, purposeful and need of the hour.
A strong economy requires both a growing public sector and a dynamic private sector. Healthy competition, teamwork, and fair profits will drive national progress. Encouraging entrepreneurship and supporting small businesses will boost industrial output. Reducing reliance on imports will strengthen the economy. Investing in infrastructure, modern agriculture, and renewable energy will further improve economic stability.
A shift from a consumption-driven to a production-based economy is essential. Promoting local manufacturing, innovation hubs, and high-quality standards will help India compete globally. Strengthening vocational education, digital literacy, and financial inclusion will create a skilled workforce ready for global challenges. Adopting new technologies like block chain, automation, and green energy will modernize industries and enhance efficiency.
Heavy investment in research and development (R&D) will drive home grown innovations. Collaborating with global institutions and setting up advanced research centres will accelerate progress in defence, healthcare, and industrial automation. Expanding space exploration and defence production will reduce import dependence and strengthen scientific advancements. By focusing on technology, self-reliance and global trade, India can build a strong, sustainable, and competitive economy.
In Gist, India’s economic strength lies in skill development, innovation, and self-reliance. By focusing on modern technology, entrepreneurship, and research, the nation can bridge economic gaps and compete globally. Strengthening industries, promoting local manufacturing, and reducing import dependence will drive sustainable growth. A skilled, tech-driven workforce, supported by education and R&D investments, will ensure long-term progress. With strategic planning and continuous innovation, India can emerge as a global economic powerhouse.
(The writer is Principal, SG GDC Doongi, Rajouri)