Former President Ram Nath Kovind Urges Shift Toward Circular Economy and Global Innovation

Kolkata: Former President of India, Ram Nath Kovind, has underscored the necessity for a strategic pivot in the nation’s growth trajectory, calling for heightened investments in research, innovation, and the circular economy. Speaking at the curtain-raiser ceremony marking the 125th anniversary of the Merchants’ Chamber of Commerce and Industry (MCCI), the former President outlined a vision for India’s economic future that focuses on global competitiveness and sustainable development.

A Vision for Economic Maturity

Reflecting on the country’s recent progress, Kovind highlighted the significant socio-economic strides taken over the past decade. He noted that India has successfully lifted 25 crore people out of poverty, a testament to the efficacy of various national development programs. Furthermore, he pointed to the doubling of the country’s economic size as a milestone that sets the stage for the next phase of advancement.

However, he emphasized that maintaining this momentum requires a fundamental shift in how the private sector and domestic industries operate. “Building a developed India is a collective responsibility,” Kovind stated, adding that the private sector must take the lead by accelerating capital expenditure and creating robust employment opportunities to absorb the growing workforce.

Transforming the MSME Sector

A significant portion of the former President’s address focused on the Micro, Small, and Medium Enterprises (MSME) sector. Kovind challenged these enterprises to transcend their traditional roles as small-scale suppliers. He urged them to evolve into globally competitive entities with a strong focus on exports. By scaling up their operations and improving quality standards, MSMEs can become the backbone of an “Atmanirbhar” (self-reliant) manufacturing ecosystem that competes on the international stage.

Leading the Global Tech Frontier

Addressing the digital landscape, Kovind advocated for India to transition from being a passive adopter of technology to an active global leader. While acknowledging that the government has already committed substantial investments toward Artificial Intelligence (AI) and digital infrastructure, he maintained that the nation must aim higher.

“India should be a global hub for data, AI, and next-generation technologies,” he asserted. His vision calls for an ecosystem where Indian innovation defines global tech standards rather than merely following them.

Embracing the Circular Economy

In line with global sustainability trends, the former President urged industry leaders to prioritize the “circular economy.” This model, which focuses on the continuous use of resources, waste reduction, and sustainable production, is viewed as critical for India’s long-term environmental and economic stability. By integrating these principles into industrial policy, he argued, India can achieve a greener form of prosperity that aligns with international ESG (Environmental, Social, and Governance) expectations.

As India enters its “Amrit Kaal”—the 25-year lead-up to the centenary of independence—Kovind’s remarks serve as a roadmap for industry leaders. His call for a blend of high-tech innovation, sustainable resource management, and aggressive industrial scaling forms the core of a strategy designed to propel India into the ranks of the world’s most advanced economies.

Disclaimer: This content is auto-generated and paraphrased.

Source: Read Original News