When India was a different country but now it's a nation with hope and possibility. Now it's a nation on economic upsurge, now it's a nation with phenomenal infrastructure, now it's a nation whose performance in sea, on land, in sky, or space is getting global accolades.
The transformation that has taken place in our country, by and large it owes to alumni of these institutions. Historical evidence is before us that no nation has achieved greatness without leading technological revolutions. For Pax Indica to become a reality, India must similarly pioneer technological advancements.
In the past decade, Bharat has witnessed remarkable transformation and innovation. The landscape has been thoroughly revolutionised for the better. Our patent filings have more than doubled. Now, it may be statistics to some but you know the import of it.
I have very often focused at institutions that research should not be for the sake of research.
A research paper is just not for academic accolades. A research paper must have at the base of it something that is transformative for the public at large. Patent filings, 42,763 in 2014-15, now, 92,000 in 2023-24 and in the process, we are global sixth. We cannot be satisfied with this. We have to be at peak and for that, the ecosystem, affirmative policies, initiatives have made work culture for you more soothing. We have the third largest startup ecosystem as indicated 1,50,000 startups. But what is more remarkable is 118 unicorns valued at $354 billion US dollars.
I would appeal to the industry, trade, business and corporates, their associations, because their commitment to innovation has to be understood in proper perspective. They are investing in their present, in their future. They have to realise it. I looked around at a global level. In the top 25, I could figure only two Indian corporates. To really bring about the big change we need, a change the nation needs, a change that will be for global stability and harmony. Because growth of India is prosperity for the world. That's our culture.
Corporate commitment to innovation is strengthening, it needs to get up. With BSE 100 companies increasing their R&D investment from now, it takes a lot of courage to read it. From 0.89% to 1.32% of revenue in past five years. This needs a geometric jump, this needs a quantum jump. I'm sure the director and the like and the alumni of IITs, they must converse on a platform. They constitute a pool of talent unrivaled perhaps on the planet. They are in positions of command in India and outside.
For a long time, I've been trying for a confederation of alumni associations of IITs. That global think tank not only can motivate the corporates but can bring about a big change. I would be happy and delighted if director takes initiative by getting in touch with other directors that we have a confederation of alumni associations of IITs. Once those people come on the same page and technology connects so easily these days, I'm sure it will happen. Institutional support through incubation centres has flourished with IIT Kanpur earlier supporting 250 startups worth $1 billion US including over 100 women-led ventures. The latter part is very impactful. When I came here, I saw not many girly students but whatever presence is there, you are more than the majority. Big change is already taking place.
Looking ahead, innovation must embody for us, And these principles are fundamental. Smart, solution-oriented, scalable, and sustainable. And these words mean a lot sustainable I say for a simple reason. Our planet is really being threatened, and we don't have another planet to go a bit. So development has to be sustainable. Smart innovation like the revolutionary smartphone or India's UPI system should be simple, adaptable and transformational. It's a moment of pride for me when I look at this adaptability. Indian farmer today. Hundred million of them receive direct funds in their accounts. What the government does is different. Look at the recipient. Nobody expected. That deep technological penetration has brought about what? No leakage of funds, no middlemen, no corrupt elements, transparency and accountability, and more importantly, frustration.
Smart, solution-orientated, scalable and sustainable and these words mean a lot. Sustainable, I say for a simple reason, our planet is really being threatened and we don't have another planet to cohabit. So development has to be sustainable. Smart innovation like the revolutionary smartphone or India's UPI system should be simple, adaptable and transformational. It's a moment of great pride for me when I look at this adaptability. Indian farmers today, 100 million of them receive direct funds in their accounts. What the government does is different, look at the recipient, nobody expected. That deep technological penetration has brought about what? No leakage of funds, no middlemen, no corrupt elements, transparency and accountability and more importantly, expedition, fastest.
Solution-orientated innovation requires understanding real-world problems across sectors from agriculture to healthcare. This demands, my young friends, is stepping out of comfort zones and engaging with diverse stakeholders across India. I will focus on this because I've come to make a fervent appeal to IIT Kanpur.
I would greatly appreciate if IIT Kanpur can take welfare of the farmer in mission mode and some of the problems are so obvious, parali burning. Please scratch your minds, find a solution. Our farmer today is virtually stressed because farmer has not tested the benefits of innovation. Most of you must, or many of you must be coming from farming families, there is agriculture produce and the farmer sells it, end of it.
Why farmer should not add value to his product? Why farmer should not market it? Just imagine the volume of fiscal dimension of industry that adds value to farm produce.
I have seen many IITians getting into that area. But those who can do it easily, the produce is in their village, in their farm. Please focus on it. It is being said that economy will get a flip, it will get a quantum jump, it needs. And manufacturing innovation is particularly critical. We must progress from designing in India to manufacturing in India. Now this is a very critical area. And I have been saying repeatedly, manufacturing means we add value. We add value to our raw material. This is only a small facet of it. But how can young boys and girls countenance a scenario when you go to a port like Paradeep or iron or is being exported without value addition? Someone holds control over that iron ore, finds it cozy sitting in a room to negotiate a deal, someone abroad. But in the process our interests are compromised. No fiscal gain. House over voluminous can be a justifiable premise to compromise with economic nation of this country. You must be extremely innovative oriented in valuation areas. Much is happening. If waste is being created into wealth, if raw material is emerging in various formats, it is on account of innovation. Boys and girls, sustainability must underpin all innovations aligning with our civilisation ethos of living in harmony with nature. I know the trend is declining, it used to be fashionable with people who had fat pockets that we can use natural resources because we can afford. You are brilliant minds, there has to be optimal utilisation of natural resources because that is premise of sustainable development.
If we are in harmony with nature, we have to work in a manner because evolution of such an ecosystem will create opportunities in renewable energy, sustainable goods, organic farming, and agroforestry. Innovation should enable, as I said, farmers to adopt environmentally friendly practises while remaining economically viable. As a matter of fact, the dream, the object, it's no longer a dream, it's our destination to be a developed nation by 2047, we need to focus more seriously on welfare of the farm. You must make it a point how to improve the farm economy with size of the land dwindling. Government has many schemes, hand-holding schemes, cooperatives that finds place in our constitution now. It's doing all it can, but the innovation has to emanate from it. Once that innovation is there, execution will follow.
India's path for a developed nation status by 2047 is inevitable, given our demographic dividend, envy of the world. Our demographic dividend is envy of the world, Natural resources, talent pool and supportive policies, affirmative policies. We didn't have that facility as you have. There is an ecosystem in place today which will hand-hold you, the moment you take a leap for the outer world, you will find if you have a startup, in the top corporates will invest. You must have read newspapers, they are quick to get into it. You would have seen how people have become billionaires coming from your institutions because they created a tech giant out of innovation.
Ordinary man is concerned not in innovation it's a solution. So, any innovation which provides a solution catches the imagination of everyone. Can you imagine a country like ours where people live in villages? Adaptability of technology has been so fast, giving us that edge in the world that our per capita internet consumption is more than that of US and China taken together. Now you'll find every person getting used to making payments through digital mechanism. Look at the fallout of it on economy, our economy is getting formalised. A formal economy is a harbinger of ethical standards, of transparent governance. Those of you can find out from your parents who file income tax returns, it used to be quite a bothersome mechanism. Not any longer. All the transactions have converged. The convergence of physical and digital infrastructure across India creates unprecedented opportunities for market linkages.
I would urge innovators, that's you boys and girls, you must leverage these foundations to connect local products with global markets, like bringing Kanpur’s leather products to international destinations. The nation's progress depends on your ability to forge innovation that addresses real challenges while driving economic growth.
