Dr. Raghunath A. Mashelkar – Fellow of the Royal Society and former Director‑General of CSIR – told the FICCI Legends Series that deep‑tech, artificial intelligence and inclusive technologies will become the defining pillars of a developed India, provided the nation focuses on creating affordable, globally competitive solutions that benefit millions, not a privileged few.

Why Innovation Must Lead

India’s current government procurement policy overwhelmingly favors the lowest bidder, compelling firms to chase cost cuts while shunning high‑risk experimentation. Mashelkar labelled this approach “one of the biggest barriers to technological advancement and indigenous innovation.” He urged the government to transform from a mere “purchaser of the cheapest products” into a “risk‑sharing partner.”

Affordability Meets World‑Class Performance

The greatest opportunity, according to Mashelkar, lies in building products that deliver superior performance with fewer resources and are affordable for millions. He cited AI‑powered tuberculosis detection via smartphones, low‑cost thermal‑imaging breast‑cancer screening, digital maternal‑health platforms, and non‑invasive anaemia diagnostics – all exemplifying the Gandhian mantra “More from Less for More.”

Entrepreneurship and Public‑Private Collaboration

India’s digital transformation, affordable data revolution, deep‑tech start‑ups and green‑hydrogen initiatives demonstrate the country’s capacity to lead global innovation. Mashelkar challenged industry to move beyond copying global best practices to creating “next practices.” He emphasized that AI should act as a “co‑pilot, never an autopilot,” keeping human judgment, ethics and compassion at the centre of progress.

Path Forward

Former FICCI President Rajvardhan V. Kanoria noted, “Innovation is no longer confined to labs; it is the defining force that will determine India’s economic competitiveness, technological leadership and inclusive growth in the decades ahead.” In this light, India must support not only large corporations but also SMEs through risk‑sharing models that spur homegrown breakthroughs.