By Radha Khera
Radha Khera is a researcher from India at the Thinking Watermill Society. She pursued her Masters in Fashion Law from LUISS Guido Carli, Italy. She is a Managing Associate at Remfry & Sagar, an IP Boutique in New Delhi NCR, India and arguably the second oldest IP Firm in the world.
Digital transformation is re-inventing the world as we know it. Globalization has placed pressure to re-build the world on the foundation of technology. Each industry, business and enterprise now faces a choice between innovation and extinction. Digital transformation is not just about technological advancements and introduction of artificial intelligence, but also includes futuristic digitally evolved growth culture for every business, large or small.
India is not far behind in this modern digital renaissance it has embraced technology in a way that is paving path for the global south to traverse on. Since 2015, India has come to be recognized as the hub of digital innovation across the globe.
According to the Global Innovation Index published in 2021, India is ranked 46th in terms of innovation capabilities amongst developing economies. Over the past few years, with the initiation of the ‘Make in India’ and ‘Digital India’, a thriving culture of entrepreneurship has developed in India. According to a report published by Forbes India in 2021, a record 42 Indian start-ups were valued at over $1 billion last year, behind only the US and China.