by Nayab T.
Monday, June 08, 2020 at 03:23 PM
The rapid globalisation, with all its positive ramifications, has created new designs of unprecedented developments in technology. Every country in the world, with a desire to become more developed, technologically and economically, adheres to the rule of “adopting and adapting” to new emerging technologies to increase socio-economic growth. Technologically advanced countries, such as the US, China and Russia, have been able to utilise the visionary minds of their scientists, engineers and academia to foster growth in technical as well as social sectors.
Though the technological growth ratio can be enhanced in Pakistan as the country possesses enormous potential in the IT industry, unfortunately, Pakistan is lagging in technological advancement. The reasons responsible for slow progress in technology include lack of funds, less encouragement for the development of different industrial products, negligence at higher levels, lack of visionary approach and no infrastructure for R&D. Many countries are operating various types of valuable start-ups, such as Flipkart having $15 billion worth. In Pakistan, no start-up of that worth has ever become operational. Although some online business websites, like Daraz, are in the mainstream, they are not globally as active as other enterprises of various countries.
Pakistan is ranked 105 out of 129 in the 2019 Global Innovation Index, which marks very low progress for the country.
To some extent, Pakistani authorities were quite successful in recent years in persuading global tech masters, such as Facebook, Innovation Lab, SheMeansBusiness and WeThinkDigital, to invest and cooperate at different technical levels for the enhancement of hi-tech growth in Pakistan
The 21st century is the century of tech-based innovation, and technology is the core growth driver for prosperity. Though Pakistan’s IT exports have increased by 2.44 per cent in the previous years, the total economic growth has not shown prominent stability. To further increase the ratio of IT exports, Pakistan must devise a new ‘”tech policy” to cater to the needs and requirements of the IT sector.
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