Kolkata, Aug 18 (UNI) There is a need to invest in applied research and market-oriented innovation in order to make India an innovation hub, said Amitabh Kant, India’s G-20 Sherpa, at the 72nd Foundation Day of IIT Kharagpur on Sunday.
"All the innovations in the world happen in academic institutions where professors and students work together, that is how Silicon Valley was created," he said.
The G20 Sherpa said that India is paying much more in Intellectual Property Royalties (IPR) than in returns, while noting that India has 24,000 PhD graduates.
He further said that only 51.25% of Indian graduates are deemed employable as per the Economic Survey.
"So, we are responsible because whoever we produce from the academic institutions must not only be employable but should be highly innovative, should be an innovator, and should disrupt society in a manner that society has ever seen before," the former Niti Aayog CEO said.
Dr. S P Somanath, Chairman ISRO; Dr. Samir V Kamat, Chairman, DRDO and Dr. Sonal Mansingh, Padma Vibhshan Awardee and Former MP, Rajya Sabha, also graced the occasion as the Guests of Honour at the IIT Kharagpur Foundation Day event.
On this occasion, the Young Alumni Achiever Award was given to 32 young alumni of IIT Kharagpur, honouring excellence in innovations, technological developments, research, community welfare, leadership, entrepreneurship, social impact, nation building, national interest, and professional accomplishments.
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