Information Technology (IT) Minister K.T. Rama Rao firmly believes in the three I’s mantra — Innovation, Infrastructure and Inclusive growth if India has to propel itself into greatness.
Participating in a panel discussion organised by a TV channel at the World Economic Forum being held in Davos, Mr. Rama Rao said the three key factors were necessary for States emerging stronger and the nation automatically. He said he had brought this idea to the notice of Prime Minister Narendra Modi too.
Recalling Tech Legend John Chambers’ view that next million jobs would be generated by the next generation of industries from start-up ecosystem rather than the Fortune 500 companies, he said innovation was emerging as highly promising ecosystem and that too from the unlikeliest of locations in India. “We will look to leverage this aspect.”
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The IT Minister felt that India was emerging as one of the most compelling business stories that the World cannot ignore now and this was due to the ‘engine room population’ that comprises 40% of the population. This young group between 20 to 40 years is a huge advantage that India has and no other country can match this human resource. He said the Telangana government has been focussing on three key factors including Ease of Doing Business, lowering the cost of doing business and improving the quality of doing business. The State has topped India in the Ease of Doing Business in the past several years. These factors, he argued, will help States focussing on Innovation and the Central government can supplement these efforts through infrastructure development.
Mr. Rama Rao said though the policies are made in New Delhi the actual work is in the States, and hoped that the Centre will give Telangana a major share of the funds it was planning to invest.