Innovation is key to growth, knowledge economy: Kalam

{image-APJ KALAM_23122007.jpg news.oneindia.in}New Delhi, Dec 22: Former President A P J Abdul Kalam today underlined the role of innovation in India's emergence as a knowledge economy, stepping up the growth rate to ten per cent per annum and ensuring that prosperity spreads to the masses, avowed goals of Indian policy and planning.

''I am sure the collective innovation capacity of all the citizens and organisations alone can make the country great,'' Dr Kalam said in his address at an award function here. The event was intended to recognise innovative organisations and was organised jointly by 'eMPi-Indian Express'. He said innovation is key to the country becoming a knowledge society. Innovations are to be carried out in all walks of life. These can come through creativity, which requires a creative mind.

''It may start from a fisherman hamlet or a farmers household or a dairy farm or cattle breeding centre or it could emanate from classrooms or labs or industries or R&D centres. Creativity has got multi-dimensions like inventions, discoveries and innovations,'' he said.

Dr Kalam said the Indian economy was growing at an average GDP growth rate of eight to nine per cent. Soon the country will be reaching the target of ten per cent growth rate.

Dr Kalam was of the view that high growth rate alone was not enough and thus it was essential to achieve inclusiveness.

The former President said India today stands at a unique point in history with advantages which will enable it to have an ascending economic trajectory. This can enable the country to substantially hike the growth process. The unique advantages available today are continously rising foreign exchange reserves, reduced rate of inflation, global recognition of the country's technological competitiveness, energy of 540 million youth and umblical connectivity of 23 million people of Indian origin in various parts of the world.

Besides, many developed countries are willing to offer the potential to share their knowledge and resources as well as to invest in India's engineers and scientists, including setting up of new research and development centres.

UNI