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India set to become the global knowledge hub

Now the fourth largest reservoir of scientific and research talent in frontier areas of research in the world, India is poised to emerge as the preferred hub for knowledge-based industries. //

Its skills in the knowledge economy are not restricted to information and communication technology alone, but spans agriculture, defence, novel drug discovery, biotech, nanotechnology, missile technology and space.

India's efforts to become a superpower in knowledge economy are spearheaded at the highest level by President A.P.J. Abdul Kalam, who is a noted scientist himself, and Prime Minister Manmohan Singh, an Oxford and Cambridge-educated economist.

"It is often said that the 21st Century will be the knowledge century. We in India are proud of our inheritance in this regard," Manmohan Singh told India's 4th annual conclave to connect with its vast diaspora in the southern city of Hyderabad recently.

The Prime Minister has also proposed a Diaspora Knowledge Network that will establish a knowledge corridor between India and the top achievers in the 25-million diaspora spread across 110 countries.

Microsoft, General Electric, Intel, IBM, Boeing and Google are some of the 100-odd global firms that have already set up R&D centers in India, and many more are actively considering similar facilities.

In fact, a study by the Confederation of Indian Industry (CII) estimates that India would emerge as a $17-billion hub for knowledge process outsourcing by 2010, growing at a staggering 46 percent annually.

India’s strength lies in areas such as pharmaceuticals, biotechnology, information and communication technology, legal support, intellectual property research, and design and development for auto and aerospace, says the apex business lobby.

"I have immense faith in the intellectual capital of India and the amount it can contribute to GE's success," says Scott R. Bayman, president of GE India, which has a
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