Indian President Pranab Mukherjee on Friday said 'innovation' was the key driver of growth and development.
Stressing on its need in India, Mukherjee said: "An innovative approach becomes even more imperative in our context, where there is a huge reservoir of unmet needs in areas such as health, education, water, food security and energy."
"Innovation can provide solutions to such challenges and, in the process, also enable many more people to harness the gains from India`s growth story."
India has tremendous untapped potential for innovation, he said.
Mukherjee said that not only India´s demographic dividend and thriving democracy could provide fertile ground for innovation, but the ´population of 550 million persons aged below 25 makes it imperative that we innovate to meet their needs in a sustainable manner, while also creating new opportunities for them´.
The National Innovation Council presented its second Annual 'Report to the People 2012' to the President at the Rashtrapati Bhavan.
The Report was presented by the Chairman of the National Innovation Council and Adviser to the Prime Minister, Sam Pitroda, in the presence of Kapil Sibal, Union Minister for Communications and Information Technology.
The Report highlights the activities and initiatives the Council has undertaken to strengthen the innovation eco system in the country. It builds on the previous work of the Council and outlines the new initiatives in the past year.
Live video communication was established during the event from Rashtrapati Bhavan to Moradabad Cluster and Kanpura Gram Panchayat in Ajmer District of Rajasthan showcasing National Innovation Council's Innovation Cluster Initiative as well as Rural Broadband Connectivity programme.