Press Information Bureau
Government of India
Ministry of Finance

India Needs to be a net producer of Knowledge, says the Economic Survey

As India emerges as one of the world’s largest economics, it needs to gradually move from being a net consumer of knowledge to becoming a net producer.

This has been emphasized in the Economic Survey 2017-18 tabled in the Parliament today, by the Union Finance & Corporate Affairs, Shri Arun Jaitley.

Given the dizzying pace and expansion of scientific research and knowledge on the one hand and a generally higher importance given to careers in engineering, medicine, management and government jobs amongst India’s youth on the other, India needs to rekindle the excitement and purpose that would attract more young people to scientific enterprise. Doing so would lay the knowledge foundations to address some of India’s most pressing development challenging in addition to maintain a decent, open society. Investing in science is also fundamental to India’s security, the human security of its populations, the resilience needed to address the multiple uncertainties stemming from climate change and the national security challenges stemming from new emerging threats, ranging from cyber warfare to autonomous military systems such as drones.

Knowledge production urged to shift India from consumer to producer to underpin science-driven development and security. The Economic Survey urges India to shift from being a net consumer to a net producer of knowledge by expanding research capacity, attracting youth to scientific careers, and increasing investment in science and R&D to support development, human security, climate resilience, and protection against emerging technological threats.