For India, progress has often begun as a gamble. Appetite for experimentation could be its key strategic asset.
On Monday, Prime Minister Narendra Modi launched $1.13 billion Research, Development and Innovation fund to catalyze private sector participation in high-impact R&D. Such projects are also often high-risk, and struggle to attract traditional funding. The fund’s aim is to strengthen India’s capabilities in strategic technologies and promote technological self-reliance.
Global supply chains have been unsettled by the actions of U.S. President Donald Trump on more than 90 countries, but for India – despite being hit by 50 percent tariffs – this need not be an enduring setback. It can, in fact, be an opening.
Tariff walls that restrict global supply chains also create gaps that nimble economies can fill.
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