Ease of Doing Business for MSMEs: Jammu and Kashmir Lieutenant Governor Manoj Sinha on Saturday said that technological advancement and innovation are key drivers of economic growth and social welfare, according to a report by the Press Trust of India (PTI).
To meet the challenges of industrial growth, energy security and urbanization, Sinha said technology-enabled innovation and consistent adoption of new technologies are essential.
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Lt Governor Sinha was speaking at the launch of a guest house and sports facilities of the National Institute of Technology (NIT), Srinagar.
In an interaction with the faculty members of the institute, Sinha focused on the impact of technology on society and roles of academic institutes in providing valuable human resources to the industry.
“Technological advancement and innovation is an essential driver of economic growth and social welfare. Technology-enabled innovation and consistent adoption of new technologies is needed to meet the future challenges of industrial growth, energy security and urbanization,” Sinha said.
He further highlighted that the first Technological Innovation Centre, Greenovator and MSME Start Up Centre have also been established at the NIT, he added.
A culture that promotes innovation and bridges the gap between industry and academia needs to be created by the students and mentors together to harness the power of ideas, advised Sinha.
He asked the technical institutes to attempt to re-invent the incubation and innovation centres to meet the expectations of society, while acknowledging the strength lies in the innovation and its power to help the society flourish. In areas such as security, technical and healthcare for ease of living, in-house innovative solutions play a crucial role, he added.
Our education campuses should push and nurture curiosity, motivate students for research and provide empowerment and space for experimentation, Sinha said.
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He also asked to set a target every year for patent registration in order to promote innovation since the IITs of the country registered a substantial increase in acquiring patents. To give a boost to research, ideas for new services and invest in human capacity, he stressed on the need to build institutional infrastructure.
Besides, Sinha congratulated the institute administration for the ongoing cotton industry and space application projects with Russia and Uzbekistan.