Question

Write a report on the topic ' Lack of innovation in Indian Industries '.

Answer 1

Even after a countless number of flagship programmes and numerous schemes being initiated in India, somewhere or the other the country does lack in thoughtfulness and innovative minds. As per the reports by Forbes ,77% of the Indian industries shutdown or fail to stand in the market due to the lack of innovations and ideas even though India has emerged out as number four in the world in the startups' rank. The World bank justify this report by saying that India Falls short of policies and human resources to contribute in the investments even though being fairly ahead in terms of research and development. Another reason which cause for psychology is that innovation cause for continuous efforts to be better day by day but the Indian mind usually gets convinced and satisfied upon reaching a milestone rather than continual efforts for emerging out to be better day by day.
Another report which indicated the same fact was by IBM institute for business value and Oxford economics said that 90% of the Indian startups fail within 5 years due to the lack of innovations. The major skills which count for the successful startup plan are prior startup experience, product knowledge and skills. Some other reasons which can also be responsible for the failure of Indian startups are poor infrastructure , insufficient facilities, lack of funds and the lack of knowledge in people working in that particular firm.
Another reason which makes India lab behind is the shortage of meta firms such as Google Twitter etc. Whatever India has ever built has faced a head to head competition from China and other such countries.
Initiatives such as Make in India, the Startup India program, the establishment of the Ministry for Skill Development and Entrepreneurship, the Intellectual Property Facilitation Centres and other incubation programs may have raised growth but the fact of innovation still misses. India immensely needs top notch business skills and technical talent to stand against the competitive market maintained by China, Japan, Korea etc. Getting to the roots of the problem one gets to know that the major failure lies in the education system which promotes the report card and not the inhibited knowledge and mind. Students in India are taught to to get good marks instead of gaining knowledge and mark it as a intelligence. So keeping it precise , India needs to work on its education system lately on the missions and flagship programmes to inculcate and nurture the innovative minds of the youth to create a much more technical and a successful India in the definition of startups.