President Pranab Mukherjee, during the rapporteurs summarization on global round table on Inclusive Innovation - Session II at West Hall of the Rashtrapati Bhavan cultural centre, in New Delhi. (Press Trust of India)
Citing India's long tradition of grassroot innovations, President Pranab Mukherjee has said the next major breakthrough in the country will come via micro-venture innovation finance.
He said the Make in India, Clean India, and Inclusive India, under which financial inclusion is of prime essence, needs a significant push.
Addressing a global round-table on inclusive innovations at Rashtrapati Bhavan yesterday, Mr Mukherjee said Bangladesh's Noble laureate Professor Muhammad Yunus (who was also present during the meet) had created an outstanding model for micro-finance that has led to the emancipation of poor in developing countries.
"To my mind, the next major breakthrough will come through micro venture innovation finance, which has been pioneered by the Honey Bee Network and National Innovation Foundation," he said.
The Union Minister of Science and Technology, Harshv Vrdhan, is spearheading the scientific and technological strategies for an inclusive growth under the leadership of the Prime Minister Narendra Modi.
"The Make in India, Clean India, and Inclusive India, under which financial inclusion is of prime essence, needs a significant push," the President said.
Mr Mukherjee said youth power has to be galvanized for nation-building. "Thus, the students have to be encouraged to sense the unmet needs of the common man, and search, spread and celebrate innovations," the President said.
India has had a long tradition of grassroots innovation. From time to time, the common people in this country have ushered in novel solutions to overcome their day-to-day difficulties, he said.
"A healthy eco-system is needed for harnessing the innovative potential of various segments in different sectors and at multiple levels in our society.
"Creating an inclusive eco-system calls for linkages between grassroots innovators on the one hand, and academic institutions and market forces, on the other," Mr Mukherjee said.