Experts focus on setting up MSME universities at UN Science Summit

Guru Nanak Dev University Vice-Chancellor Prof (Dr) Karamjeet Singh delivered the inaugural address during a session on “Strengthening India’s Innovation System for Inclusive & Sustainable Growth: Technological Accumulation, Skill Development & Financial Inclusion” at the Science Summit held alongside the 80th United Nations General Assembly (UNGA80).

In his address, Prof Singh emphasised the need for India to develop its own model of economic growth rooted in local problem-solving. He highlighted that greater investment in Research and Development (R&D), skill enhancement and quality capital formation is essential to accelerate India’s economic progress. The session was convened and moderated by Dr Swati Mehta, Associate Professor, Punjab School of Economics, Guru Nanak Dev University. More than 50 national and international scholars participated in the online session hosted under the UNGA platform.

The session was chaired by Prof Charan Singh, CEO and Founder Director of EGROW Foundation, India. He outlined a three-pillar strategy of growth comprising technological development, digital infrastructure and advanced manufacturing — key drivers for India to achieve the vision of Viksit Bharat@2047. He further discussed recent government initiatives promoting strategic and emerging sectors such as semiconductors to foster industrial growth and innovation. Prof Singh strongly advocated for the establishment of “MSME universities,” similar to agricultural universities, to support industrial development and create large-scale employment opportunities.

Eminent economist Prof Nagesh Kumar, Director-General of the Institute for Studies in Industrial Development (ISID), New Delhi, and a member of the pivotal Monetary Policy Committee (MPC) of the Reserve Bank of India, stressed the importance of innovation for driving India’s manufacturing-led transformation. He said, “While innovation is a key driver of economic growth, India continues to lag in R&D investments compared to global standards. India’s mission-driven R&D efforts in space, green energy, and atomic sectors, have been commendable but we now need to leverage India’s growing role as a global R&D hub to maximise local benefits and support structural transformation.”

Prof Aradhana Aggarwal, Senior Advisor at the National Council of Applied Economic Research (NCAER) and consultant to the Asian Development Bank, highlighted the need to strengthen India’s innovation ecosystem by easing business regulations, designing focused training programs, and enhancing the innovative capacity of MSMEs. Agricultural economist Prof Ashok Vishandass, Professor of Applied Economics at the Indian Institute of Public Administration (IIPA) and former Chairman of the Commission for Agricultural Costs and Prices (CACP), Ministry of Agriculture and Farmers Welfare, underscored the urgent need to boost innovation in agriculture. He emphasised that advanced research and technology are crucial to addressing the challenges posed by climate change. Prof Supreet Kaur, Associate Professor at the University of California, Berkeley, shared insights from her research on labour markets in India.