India is one of the largest developing economy and also ranks third among the foremost engaging investment destinations for technology transactions within the world. The Union Minister of Department of Science & Technology, Dr Harsh Vardhan, has reiterated that technology could be a sturdy priority area for the government and it aims to create individuals science-centric.
Developed India has a powerful hub on science and technology, realizing that it is a key component of economic growth. India is among the top countries within the world in the field of Technology and scientific research, positioned jointly of the top nations in the field of Technology.
The technologies are often thought to be primary source in economic development and also the numerous technological changes contribute considerably within the development of underdeveloped countries.
Technology has highly affected the world economy and its usage has been connected to marketplace transformation, improved living standards and a lot of strong international trade. So, if technology has just about revolutionized each business in the current world economy
Technological advances have considerably improved operations and down the price of doing business. Currently, as an example, simply some technicians controlling robotic systems will operate a complete industrial plant, and innovative inventory systems are capable of provision required components inside a short time for assembly. Advancements in the industry, including advancements in telecommunications, have multiplied job opportunities and reinforced economic growth.
Technological advancement and economic growth are actually concerning one another.