New Delhi, March 7 (IANS): President Pranab Mukherjee on Saturday said India possessed the potential to acquire a leading edge in innovation, and called for generating ingenious solutions to overcome poverty in the country.
Inaugurating a week-long "Festival of Innovations" at Rashtrapati Bhavan here, Mukherjee said, "India always has had a strong tradition of knowledge. Our knowledge system offer tremendous scope for research involving land-to-lab investigation and lab-to-land transfer of technology."
"It is important that the vast repository of indigenous knowledge is protected, documented and preserved in active collaboration with prominent practitioners of traditional knowledge," he added.
Mukherjee urged the innovators present at the occasion to "continue generating ingenious solutions to overcome poverty, create employment and make the society healthier, happier and harmonious."
Describing innovation as the key to progress and prosperity, the president said the process of innovation converts knowledge into social good and economic wealth as well as encourages the engagement of talent with the society to improve the quality of life.
He called for deepening the involvement of the leaders of technological, financial and educational sectors with the creativity of common people and young students to ensure building viable linkages between formal and informal sectors.
The festival seeks to help provide a platform to bring different stakeholders together and make these entities active partners in inclusive innovation, said an official statement.
He stressed upon India's "potential to be at the forefront of innovation" notwithstanding the country's 76th rank in the Global Innovation Index 2014, behind China at the 29th position.
Mukherjee also gave away the National Biennial Awards for Grassroots Innovations and interacted with a new batch of Innovation Scholars In-Residence and Writers In-Residence.
A total of 41 awards were given to 40 innovators and six communities, including 16 national, one lifetime achievement and one posthumous award.
The Innovation Exhibition will remain open for the public at President's Estate till March 13.