The 2025 Economics Nobel honored Joel Mokyr for showing sustained growth needs a constant feedback loop between theoretical and practical knowledge, mass skilling, and societal openness. Philippe Aghion and Peter Howitt formalized Creative Destruction, demonstrating that temporary monopoly power fuels competitive, cyclical innovation and progress.
Click to View MoreIndia aims to transform its R&D landscape into a global innovation hub. Despite rising publications, challenges persist—low Gross Expenditure on R&D (0.7% of GDP), weak industry-academia ties, and ethical issues. Initiatives like Anusandhan National Research Foundation (ANRF) and India Research Tour boost inclusivity, ethics, and funding, driving 'Viksit Bharat 2047'.
Click to View MoreIndia's patent system has evolved from promoting generic drugs to encouraging domestic innovation, with resident filings now surpassing foreign ones. To transition from "Make in India" to a global innovation powerhouse, India must overcome challenges like backlogs and low R&D investment by boosting funding and streamlining processes.
Click to View More
© 2025 iasgyan. All right reserved