10th Jan. 2022, New Delhi
As per 5Jewels Research (5JR)’ s Analyst estimates, India lost large scale innovation opportunities during present pandemic period of around two years. “As per our estimate, cumulative Indian GDP losses likely to cross a Trillion-dollar mark since Covid outbreak in early 2020, which could have been largely prevented through rapid Tech. innovations and accelerated adoption of these innovative Technologies” 5JR analyst said in a press statement.
“In just around two years of time frame since outbreak of Covid-19 pandemic, India lost over $200B worth innovation opportunities because we found it convenient in adopting primitive ways of pandemic spread control through large scale movement restrictions, lockdowns and shutdowns instead of innovating any big approach towards business and economic activities continuity” said Chief Analyst of 5Jewels Research, Mr Sumant Parimal while sharing his views on revised Indian GDP growth estimates released by Govt. of India on Friday which is around 0.3% lower than last month GDP growth estimates of RBI for FY 2021-22, most likely due to fresh restriction during 3rd wave of Covid-19.
Analyst believes that innovations around RoboAutomation and its large scale adoption for keeping our economic activities running intact even during peak of virus spread was a biggest miss by India.
“Robotics Avatars, Metaverse and other emerging technologies are going to be biggest innovation hotspot for decoupling our economy from frequent pandemic led disruptions, and India need to take a prudent and holistic approach in innovating and adopting these technologies at a faster pace to safeguards its economic ambition of $5T+ GDP in next few years” said 5JR’ analyst Ms. Manvi Ridhi, who is also working on developing Robotics Avatar Technologies which shall be further used for developing PM Modi’s Avatar Robots.
