By Arjun Malhotra

India’s burgeoning population, coupled with a demographic advantage where a significant portion falls within the tech-savvy age range of 15-29 years, positions the country to become a global tech leader. With a projected rise in electronics consumption to $400 billion by 2025, there is a crucial need to transform India into a manufacturing hub, with minimal dependence on foreign parts.

Yet, real change requires a deepened focus on R&D, a strategy that propelled China from mere assembly to manufacturing prowess. Drawing inspiration from global models such as Taiwan, India needs to nurture the growth of the intellectual property (IP) ecosystem. A robust expansion of IP not only fuels economic development but also promotes inclusivity by enhancing user experiences tailored to local conditions, thereby facilitating the creation of high-income jobs. Design and the creation of IP play a pivotal role in promoting innovation and fostering a dynamic and prosperous society. Nations prioritising the protection of IP are more likely to thrive in the modern, knowledge-based global economy.

For design to be transformative for India, it must be “Indian in thought”, to ensure use by maximum number of people. Inclusivity and user experience need to be the focal points, ensuring that products are not only appealing but also repairable locally. Usability, aesthetics, and attractiveness are essential elements, presenting a huge growth opportunity for India to emerge as a product nation.

The economic benefits of a robust IP ecosystem are multifaceted. A vibrant IP ecosystem creates high-skilled jobs, and the successful commercialisation of IP generates employment opportunities throughout the supply chain. Secondly, strong IP attracts foreign investment, as international companies seek access to protected technologies and markets. Third, from the technological standpoint, effective IP protection facilitates collaboration, knowledge-sharing, and access to cutting-edge technologies. 

Additionally, on the societal level, the improved quality of life is evident in advances in healthcare, agriculture made possible through robust IP growth. 

However, it’s crucial to weigh potential downsides, such as overly restrictive IP regimes hindering access to essential technologies for developing countries. Striking a balance between protecting inventors and ensuring equitable access is paramount. Moreover, strong IP rights can lead to monopolisation, thus reducing competition. 

In 2022, India imported electrical and electronic equipment worth $69.68 billion, according to the United Nations COMTRADE database. Electronics stand as the second-largest contributor to the country’s trade deficit, following oil and petroleum products. Achieving self-reliance in electronics is vital during the Amritkaal period of high growth. To reach a $5 trillion economy in the next five years, prioritizing strategic investments in R&D, fostering a robust IP ecosystem, and promoting inclusive design principles is crucial.

The author is the co-chair of Epic Foundation & co-founder of HCL.