Innovation crucial for economic growth: IFIA chief

Our Bureau Visakhapatnam | Updated on January 10, 2018 Published on September 09, 2017

Innovation is absolutely essential for achieving growth in the present scenario and the prosperity of a nation and its people depends on out-of-box ideas, according to Alireza Rastegar, International Federation of Inventors’ Associations (IFIA) president.

He was speaking here on Saturday morning at the inaugural of a three-day International Innovation Fair being organised by the AP Innovation Society. He said innovation had no borders and one could go anywhere to market one's products by proving the uniqueness and cost-effectiveness of them.

Sixty Indian innovations and 40 from the USA, Poland, China, Germany, Korea, Lebanon, Egypt and other countries were on display at the fair which was earlier inaugurated by Rastegar.

He said AP had taken the lead by forming the APIS to spread innovation culture. Indian Innovation Association president A.S. Rao said young students should aspire to become entrepreneurs so as to generate employment. He said a proper ecosystem was required to encourage startups in a big way.

APIS CEO V. Valli Kumari said emphasis was being laid on inculcating innovation culture among the youth. She said the government was also facilitating hand-holding for the startups by tying up with several premier organisations.

Published on September 09, 2017
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