India’s journey through innovation and policy: How technology-driven infrastructure is powering sustainable economic growth
By Kapil Bardeja, Co-Founder & CEO, Vehant Technologies
The global economy is experiencing a significant change as a result of everyday technological improvements. At the core of this shift, smart cities and technology-driven infrastructure are becoming the building blocks of modern economies, offering sustainable solutions to urban challenges. Innovations like IoT, AI, and video analytics are revolutionising city management, ensuring efficiency, security, and improved quality of life. Through these technologies, nations are pushing job creation and sustainable development as they address global challenges and become leaders in the modern economy.
A key example of this transformation is the integration of AI-powered traffic management systems in smart cities. These systems use data in real-time to minimise congestion and improve travel times. Additionally, surveys that use video analytics ensure public safety through potential risk identification and quick response enablement. All these measures bring a quality of life and attract global investments, making it the smart city engine for economic development.
Innovation at the forefront
Innovation plays a very key role in the transformation of large-scale events’ management and organisation, making it much more efficient, secure, and satisfactory for attendees. When these events are growing in size and complexity, traditional methods of crowd control, safety, and logistics are no longer enough. Today, cutting-edge technologies like artificial intelligence (AI), the Internet of Things (IoT), and video analytics are driving the future of event management, providing real-time data and actionable insights that improve operations and safety.
For example, during large-scale events like the Magh Mela, technology plays a pivotal role in managing crowds, ensuring safety, and improving operational efficiency. AI-driven video analytics and smart surveillance systems allow authorities to monitor crowds, predict potential risks, and provide real-time alerts. This demonstrates how tech innovation enhances event management, contributing to safety, security, and overall success.
Empowering ideas through government initiatives
India’s entrepreneurial landscape is flourishing, driven by a young, dynamic population eager to innovate. Startups are emerging across various sectors, addressing local challenges while expanding their reach globally. Cities like Bangalore, Mumbai, and Delhi have become key startup hubs, leading innovation in various fields. This thriving ecosystem is not only creating jobs but also contributing significantly to the country’s economic growth, positioning India as a global leader in entrepreneurship.
India’s entrepreneurial ecosystem is rapidly growing, fuelled by government support and technological innovation. Initiatives like Startup India, launched in 2016, have provided crucial benefits such as tax exemptions, funding support, and regulatory relaxations, enabling startups to flourish across sectors like fintech, health tech, and edtech. These efforts have led to the emergence of thousands of innovative businesses, driving economic growth and job creation. By encouraging entrepreneurship, the Indian government is helping businesses scale globally, positioning India as a global leader in technology-driven solutions.
The Make in India revolution: A decade of progress
The combination of technologically disruptive skills, entrepreneurial skills, and proactive government policy is taking nations to become global economic superpowers. Entrepreneurs are the disruptive ones, using technology to address everyday problems, and policies offer the underlying platform to support long-term development. The government of India’s ambitious Make in India initiative that celebrates its 10th anniversary today represents a turning point. The government support takes us a step forward to achieve our mission of making India a powerhouse of manufacturing & innovation. This transformation consists of the ability to foster innovation ecosystems that empower businesses to scale and thrive, said Mr. Kapil Bardeja, Co-Founder & CEO of Vehant Technologies. Expanding digital infrastructure, business-friendly reforms, government funding, and the entrepreneurial spirit are key enablers of a thriving startup sector in India. DPIIT has recognised 1,40,803 startups as of June 30, 2024, with these startups creating over 15.53 lakh direct jobs since the 2016 Startup India launch. For India, embracing this dynamic is key to cementing our position as a global leader in technology and innovation. The boosting industries, employment generation, and global competitiveness are shaping not just economies but futures.
