Geopolitics and Socioeconomic development of India: Creating an enabling innovation ecosystem

Saroj Kumar Pani
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Saroj Kumar Pani: IIM Visakhapatnam, India

in ABEM Conference Proceedings from Academy of Business and Emerging Markets (ABEM), Canada, currently edited by Satyendra Singh

Abstract: As the 21st century progresses as one of the most unpredictable but promising centuries in human history, emerging economies such as India are at the cusp of the new world order. The case of India is specifically unique even among all the emerging economies. Apart from its diversity and enormity, India's geopolitical position as a rising power in Asia places it at the center of regional and global affairs, presenting opportunities and challenges. While geopolitical tensions and uncertainties obstruct India's socioeconomic growth, innovation and entrepreneurial application are catalysts for overcoming geopolitical hurdles. In recent years, India has seen active policy interventions to create a vibrant innovation ecosystem and encourage entrepreneurial ventures. The ecosystem, driven by the aspirations of young entrepreneurs, has contributed significantly to job creation, technology adoption, and economic diversification. Nonetheless, India has a long way to go in creating a culture of innovation, inclusive growth, and risk management at the grass root level of the society. This talk is an effort to (1) highlight some of the most important aberrations we witness, even among intellectuals, researchers, policymakers, and teachers, and (2) help us rethink and recalibrate our efforts toward creating a better society and contribute to all who need it.

Keywords: Geopolitics; Socioeconomic; development; India; innovation; ecosystem (search for similar items in EconPapers)
Date: 2023
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