Much of modern innovation has been from rich countries. And then there is a slew of news of innovation from China - fast supercomputers, fast trains, modern stealth fighters, large dams and so on. It runs deeper as McKinsey report - A CEO’s guide to innovation in China - explains in some detail.
The GDP of China at $6+ tr is well in the range where developed countries have been for many decades. So financial resources available for creating a broad based ecosystem for innovation do exist. Additionally, institutions, labs, and abundant supply of young minds create a conducive environment for sustained innovation.
At $1.8 tr of GDP much of the above holds for India too. However, we need to make innovation - and by corollary, research - an attractive proposition for individuals and enterprises together. Our economy needs to grow in multiple dimensions and not remain lopsided towards services alone.
Research and innovation need a widespread network where working professionals, academics, full-time researchers can collaborate pursuing bigger goals with bite-sized innovations at massive scale.
The future of nations is a battle of ingenuity.
Exciting times, challenging times, and times to stand up and be counted!