India’s capital goods sector is a critical pillar of the country’s manufacturing ecosystem, yet it faces persistent challenges such as low R&D investment, fragmented infrastructure, and a wide industry-academia gap. Addressing these roadblocks is Pravriddhi, a pioneering product acceleration initiative under FSID @ IISc, which aligns with India’s Viksit Bharat 2047 vision to create a $7.5 trillion manufacturing sector.
In this exclusive conversation with Machine Edge Global, Yogesh Pandit, Director (Product Acceleration), FSID, discusses the inspiration behind Pravriddhi, its unique role in strengthening India’s self-reliance in high-end equipment manufacturing, and how it fosters innovation through structured industry-academia collaboration. He also shares insights into how policy interventions and strategic initiatives can further propel India’s journey towards becoming a global manufacturing powerhouse.
Can you tell us about the inspiration behind launching Pravriddhi and the key challenges it aims to address in India’s capital goods sector?
Pravriddhi is inspired by India’s Viksit Bharat 2047 vision, which aims to achieve a $7.5T manufacturing sector by 2047 (25% of US$30T GDP in 2047). Recognizing the critical role of indigenous R&D and need for a robust capital goods sector in achieving this goal, Pravriddhi seeks to address key challenges like very low R&D investment, fragmented infrastructure , and the industry-academia gap. By fostering active mentoring and innovation, Pravriddhi aims to accelerate the development of capital goods driving a force multiplier effect and self-reliance across the broader manufacturing landscape.
How does Pravriddhi differentiate itself from other product accelerator programmes in the country?
Firstly, its presence within FSID @ IISc provides unparalleled access to cutting-edge technology, infrastructure, and expert mentorship, distinguishing it from general accelerator programs. Secondly, Pravriddhi’s initial focus on the capital goods sector addresses a critical bottleneck in India’s manufacturing ecosystem, aiming to create a cascading effect of improvement across industries. Thirdly, its explicit alignment with the Viksit Bharat 2047 vision ensures that its initiatives are strategically directed toward achieving national developmental goals, fostering a sense of purpose and impact. Furthermore, Pravriddhi’s pan-India approach, with planned innovation hubs across the country, allows it to tap into diverse regional expertise and address localized challenges. Finally, it leverages the 33 years of FSID experience in industry-academia collaboration, allowing the program to hit the ground running with proven methods.
India still imports over ₹1.5 lakh crore worth of high-end equipment annually. How can Pravriddhi help reduce this dependence and boost local manufacturing?
The program’s core strategy centers on boosting indigenous research and development, enabling the creation of competitive local alternatives. By bridging the critical industry-academia gap, Pravriddhi facilitates the transfer of knowledge and technology, accelerating the product development lifecycle, thereby bringing innovative capital goods to market. By promoting market-driven, design-led products and supporting skilling initiatives, Pravriddhi cultivates an environment where local innovation and manufacturing flourish, thereby diminishing the need for expensive imports.
Industry-academia collaboration is often seen as a challenge in India. What measures does Pravriddhi take to ensure seamless cooperation?
It establishes structured interaction frameworks, facilitating regular communication and mentoring through meeting cadence, workshops, and seminars focused on solutioning. By prioritizing projects that address real-world industry problems, the program ensures that academic knowledge translates into practical applications. Inculcates streamlined product development process that provides for critical technical reviews by mentors at various stages of product development. A parallel skilling track using technologies like VR/AR ensures that academics train R&D teams from industry participating in the program.
What are some of the key policy changes or government initiatives that could further support programmes like Pravriddhi?
Government should encourage programs like Pravriddhi by formulating funding schemes to “seed the progress” that such programs bring. Early successes will motivate industry to invest in R&D thereby increasing indigenous R&D. Strategically regulate imports to create a market advantage for comparable, locally manufactured goods, Establish a policy framework that incentivizes development of products aligned with international standards, enhancing export competitiveness.