By Carl Dahlman, Anuja Utz
Within the international wisdom economic system of the twenty-first century, India?¦s improvement coverage demanding situations would require it to exploit wisdom extra successfully to elevate the productiveness of agriculture, undefined, and providers and decrease poverty. India has made large strides in its monetary and social improvement long ago twenty years. Its striking development in contemporary years?X8.2 percentage in 2003?Xcan be attributed to the far-reaching reforms launched into in 1991 and to establishing the economic system to worldwide pageant. furthermore, India can anticipate a few strengths because it strives to rework itself right into a knowledge-based economy?Xavailability of expert human capital, a democratic method, frequent use of English, macroeconomic balance, a dynamic inner most region, associations of a loose marketplace financial system; a neighborhood industry that's one of many biggest on the planet; a well-developed monetary region; and a vast and different technological know-how and expertise infrastructure, and worldwide niches in IT. yet India can do more?Xmuch more?Xto leverage its strengths and snatch today?¦s possibilities. India and the information economic system assesses India?¦s development in turning into an information economic climate and indicates activities to reinforce the commercial and institutional regime, boost knowledgeable and expert employees, create a good innovation procedure, and construct a dynamic details infrastructure. It highlights that to get the best merits from the information revolution, India might want to press on with the commercial reform schedule that it placed into movement a decade in the past and proceed to enforce some of the coverage and institutional alterations had to speed up progress. In so doing, it is going to be in a position to enhance its overseas competitiveness and subscribe to the ranks of nations which are creating a profitable transition to the data economic system.
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Extra resources for India and the Knowledge Economy: Leveraging Strengths and Opportunities (Wbi Learning Resources Series)
This function could, for example, organize a Knowledge Economy Task Force, headed by the Prime Minister and comprising stakeholders from government, the private sector, academia, think tanks, research organizations, and NGOs. The main objective of the task force would be to determine ways of coordinating action involving diverse stakeholders to tackle key reforms in the four pillars of the knowledge economy and sequence the investments necessary to move India xxxi INDIA AND THE KNOWLEDGE ECONOMY successfully into the knowledge economy of the twenty-first century.
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What would it take to ramp up such institutions even further so that India can become a leader in education and training, not only in IT and software, but also more generally in high-skill areas that can provide greater outsourcing services to the world? • An increasing number of multinational corporations are currently working with Indian firms to contract and subcontract high-end R&D. How can India become a global leader in innovation in its own right, not only in IT-related areas in which it has carved out a global niche, but also in other knowledge-intensive industries, such as pharmaceuticals and biotechnology?
India and the Knowledge Economy: Leveraging Strengths and Opportunities (Wbi Learning Resources Series) by Carl Dahlman, Anuja Utz