When Dr. Raghunath A. Mashelkar stepped onto the FICCI Legends Series stage on July 14, 2026, he didn’t merely discuss innovation—he charted a course for India to move from a global technology consumer to a creator of world‑leading solutions.

The former Director‑General of the Council of Scientific and Industrial Research (CSIR) and Fellow of the Royal Society delivered the lecture titled “Winning Through Innovation: Lessons for Industry and Society.” His message centered on deep‑tech, artificial intelligence (AI), and inclusive technologies as the engines that will shape India’s future.

Mashelkar warned that India’s current posture—purchasing the latest gadgets rather than developing them—must change. He invoked the country’s “More for Less for More” philosophy, urging a pivot toward affordable, globally competitive products that benefit millions instead of a privileged few. The speaker outlined three pillars for a new innovation model: excellence, affordability, and inclusion. According to him, these should replace the traditional emphasis on technological sophistication or premium pricing.

A major hurdle, he identified, is the existing government procurement policy, which he said rewards the lowest bidder above all else. Mashelkar called for a complete overhaul, urging the state to act as a risk‑sharing partner rather than merely a purchaser of the cheapest items. He stressed that procurement reforms are essential to nurture indigenous deep‑tech entrepreneurship.

To illustrate India’s capacity for high‑impact, low‑cost solutions, Mashelkar highlighted several domestic projects. He mentioned AI‑powered tuberculosis detection tools that run on smartphones, affordable breast‑cancer screening via thermal imaging, digital maternal‑healthcare platforms, and non‑invasive anaemia detection technologies. These initiatives embody the “More from Less for More” approach and show that breakthrough innovations can arise even with limited resources.

Beyond healthcare, he pointed to progress in digital transformation, an affordable data revolution, and green‑hydrogen initiatives. Mashelkar urged Indian industry to move past mere adoption of global technologies and to become a creator of “Next Practices.” He also cautioned that AI should act as a co‑pilot, not an autopilot, keeping human judgment, ethics, and compassion at the core of technological progress.

During the event, Rajvardhan V. Kanoria—former FICCI president and chairman of Kanoria Chemicals & Industries Ltd.—echoed the call for innovation. Kanoria said that innovation now defines India’s economic competitiveness, technological leadership, and inclusive growth. He added that the industry’s challenge is to grow larger while generating greater value that benefits a wider section of society.

The lecture arrived amid rapid changes in India’s innovation ecosystem. Recent reports indicate that procurement reforms are being examined for their potential to unlock domestic research and development. Analysts note that a shift toward risk‑sharing contracts could accelerate the creation of affordable, high‑performance products in healthcare, energy, and digital infrastructure.

While Mashelkar’s remarks were broadly supportive of India’s deep‑tech ambitions, the specific mechanisms for procurement reform remain undefined. The government has yet to publish a detailed framework for risk‑sharing contracts, and industry stakeholders are awaiting guidance on how to align innovation incentives with public‑sector procurement rules.

In sum, Dr. Mashelkar’s address underscores India’s potential to lead in affordable, inclusive technology. The next steps will involve aligning procurement policies with innovation goals, fostering public‑private collaboration, and scaling proven low‑cost solutions across the nation. The outcome of these efforts will shape India’s position as a creator of next‑generation technologies and a model for inclusive growth.