Tech, R&D to drive India's next phase of economic growth: Goyal

Union Minister Piyush Goyal emphasized the pivotal role of technology and research and development (R&D) in propelling India's next economic growth phase. Speaking at a recent industry event, Goyal highlighted the government's commitment to fostering a robust ecosystem that encourages innovation and technological advancements. By investing in cutting-edge research and supporting startups, India aims to position itself as a global leader in various sectors, including information technology, biotechnology, and renewable energy. Goyal underscored the importance of collaboration between the public and private sectors to achieve these ambitious goals. He called for increased investment in R&D, citing its potential to create high-quality jobs and boost productivity across industries. The minister also pointed out that India's burgeoning tech talent pool and entrepreneurial spirit are key assets that can drive the country's transformation into a knowledge-based economy. Furthermore, Goyal stressed the need for policy reforms and infrastructure development to support this growth trajectory. By streamlining regulatory processes and enhancing digital connectivity, the government seeks to create an environment conducive to innovation. As India embarks on this journey, the focus will be on sustainable development, ensuring that technological progress aligns with environmental and social objectives.

— Authored by Next24 Live