September 17, 2015: YES Institute is confident that the second visit of Hon’ble Prime Minister Narendra Modi to the United States will further deepen India’s strategic relations with the U.S. in line with new national priorities and takes the relations beyond the traditional strong areas of defence and nuclear cooperation.
This is also the first visit by an Indian PM to the U.S. West Coast in three decades. The focus on fostering the research, technology and entrepreneurial ecosystem marks a welcome tactical shift in foreign policy. The Institute believes that this highly strategic visit can accelerate the ‘Digital India’ and ‘Start-up India’ programs by leveraging and replicating the entrepreneurial ecosystem epitomized by the Silicon Valley towards developing India into a Knowledge Economy.
PM’s deliberations with leading innovative companies of the world including Google, Apple, Adobe, Facebook etc. can result in tangible benefits in transforming India to an R&D hub, and eventually a manufacturing hub for high end technology.
A number of agreements and initiatives are expected in the areas of Digital Infrastructure, ‘Internet of Things’ and direct ICT investment into India; which will accelerate and actualize the ‘Digital India’ program.
The efforts of the Government to co-create an enabling ecosystem for driving the research-innovation-incubation-funding process facilitating start-ups are expected to get a fillip through the PM’s discussions with the leading firms of Silicon Valley.
The Government has rightly prioritised Information & Communications Technology as a critical piece of foreign policy in sync with the national priorities of creating a knowledge economy and digitally offering equal opportunities to the youth.
The initial success of this can be gauged by the near term tangible developments of India attracting a significant chunk of global research, innovation and electronics manufacturing. The Institute is confident that these steps will be essential to transforming the Digital Future of India with innovation, entrepreneurship and key partnerships.
About YES Institute
YES Institute has been established by YES BANK as a private sector global think tank, to channel private sector capital towards India’s development, with a strong focus on India’s manufacturing potential. The institute believes that India’s economic growth must adopt a low carbon pathway, leapfrogging to a scenario of unique and resource-efficient high technology manufacturing, sustainable agriculture and services and also that India’s glorious past and rich culture that is anchored in arts, crafts, frugal innovation and diversity must be leveraged to define the country’s growth trajectory along a knowledge driven pathway.
YES Institute’s approach on taking these themes forward is to encourage innovation, skills development and convene public and private sector multi-stakeholder engagement. The institute aims to partner with other leading think tanks as well to strengthen its approach and in essence to merge intellectual silos. Therefore, the YES Institute has sharpened its lens on the core topics of Urbanization, Social innovation, Green Economies and Culture.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
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