Only the Fittest Survive – Let’s Keep Innovating

The recently released 2023-2024 Economic Survey reflects a strong growth curve of an innovation-driven industrial ecosystem. The DPIIT-recognized startups in India crossed 1.25 lakh in March 2024 from a mere 300 in 2016. As per the report, Indian startups have filed more than 12,000 patents from 2016 to March 2024.

The growing number of patents and startups in India is paving the way for knowledge and innovation-backed economic growth in the country. Interestingly, over 13,000 of these startups are engaged in Artificial Intelligence (AI), the Internet of Things (IoT), Robotics, and Nanotechnology.

According to the survey, India’s consistent improvement in the Global Innovation Index validates that the country has been making strides in industrial research and development. Presently, India holds the top rank globally in the domestic market scale indicator of the index.

To facilitate the growing industrial innovation, the Anusandhan National Research Foundation (ANRF), with an estimated cost of `50,000 crore during 2023-28, is slated to serve as an apex body to provide high-level strategic direction for scientific research in Indian industry.

To foster a conducive innovation environment in the country, the industry and academia have started collaborating on projects. Towards this endeavor, MMI brings out exclusive research projects by the academia, which will contribute largely to the engineering and manufacturing landscape.

As a practice, this edition of MMI also presents curated content, featuring the views of industry experts on contemporary topics. On this note, we solicit your feedback on this issue, and thank you, our readers for helping us remain the best manufacturing publication over time.

SOUMI MITRA
Editor-in-Chief
Modern Manufacturing India
soumi.mitra@magicwandmedia.in

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