explain how is india a knowledge economy

Dear Student,
A knowledge economy is an economy that leverages its existing knowledge to improve overall productivity across industries and human development, along with advancement in high-tech innovations and information and communication technologies industries.
India can be considered as a knowledge economy because of its great and ancient tradition of learning and innovation. It has high potential based on its youth population and growing service sector, particularly ICT. India has an average age of 29 years, while developed countries like the USA and Europe have an average age of 39 and 48 years respectively. In such a scenario, India can lead the world by providing it human capital in the future.
​​​​But, all these can be achieved, if we uniformly support education, research, and innovation., by spending a higher amount on research and development and creating a strong intellectual capital base.

Regards,

 

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