Innovation Plays Key Role In Making India Developed By 2047, Says Nirmala Sitharaman While pointing out the significance of digitalization that has been laid into medical services, education and software as a service (SaaS) sector, Sitharaman said there is immense potential to take it up further

Union finance minister Nirmala Sitharaman, on Thursday, said that innovation plays a key role in making India a developed nation by 2047, along with highlighting the incredible potential of digitalization in achieving this. She added that if the same momentum which was seen through Covid-19 and immediately after that phase continues, and if all countrymen put their efforts together, then the mission developed India by 2047 would not be much difficult.

"Innovation is going to be the key for many things that we can do between now and 2047. It is because of the innovation, the solutions which we have for very many of the festering problems of this economy, we can achieve that desired developed economy status," said Sitharaman, while addressing the 105^th annual general meeting of Federation of Karnataka Chambers of Commerce and Industry (FKCCI).

While pointing out the significance of digitalization that has been laid into medical services, education and software as a service (SaaS) sector, Sitharaman said there is immense potential to take it up further.

Mentioning about the India's slow pace during the pandemic phase with of course sufferings, but succeeded in keeping itself steady and businesses came out of it, the finance minister said that, "We have lots more to do, I'm not saying that we have succeeded in achieving everything that we want, but we come out. There is more assistance needed by some sections, we are attending to them, as and when we hear from them. You will find that different countries have had experiences, very different from what India has had."

India, despite being a large country with huge population and different access with respect to road or any other parameter, because of the technological revolution of sorts that happened much before the pandemic there was access to technology to provide relief, reach people and for the transparent process, as per minister's words.

"For a country that is described as an emerging market, and is still referred to as a developing economy, the achievements of India through the vaccination, through the relief which was provided for the people, through the way we have reached out to small and medium businesses, stand out in comparison to the rest of the world," said Sitharaman.