India has one of the largest pool of talented manpower, but few innovations and patented products

India does indeed have a large and a talented workforce. The question here is; are we harnessing it properly enough. Are we getting the best out of them?
The Indian education system is a gigantic machine churning out millions of capable students year after year. Some might say that a majority of them are not employable because of lack of proper training and exposure; but the core issue here is different.

The main reason for the lack of innovations and patented products is because of the lack of a comprehensive and independent patenting body. There should definitely be present in the system an unprejudiced body that can arbitrate over product patents of different companies across varied sectors. Once this body is in place, MNC's and home grown domestic companies will start setting up R&D facilities in India. R&D facilities are the basic requirement to foster innovation and thus create new products and patents. India's large pool can easily be tapped when such measures are taken by the Government.

The next reason that could lead to this dearth of innovations could be the issue of brain drain. Over the past decade a multitude of students have been leaving abroad to pursue their higher education. They get their graduation done in a decent enough college in India, and go on to specialize in US and across Europe. Though they might in the future contribute to the growth of India's economy, it will definitely be lesser in amount than their contribution if they had stayed at home.

This again leads to my core point that if we have enough R&D facilities in India, then students will automatically stay back in India to finish their studies.
Every student looks for challenges, and if India is able to provide the same over time, brain drain will be a no drainer.

Let us take the example of Pharma. Pharma is budding industry with plenty of new products getting pushed into the market regularly. There is heavy competition and if a company is able to come up with a successful drug, then the profits are limitless. There are major players in the Indian industry who compete globally. But due to the lack of a proper patenting system, each company is vulnerable to copied versions of their drugs. The issue inevitably goes to court and becomes a huge mess.

Finally, I would like to conclude and reiterate my point for an individual body to overlook the entire patenting process. This can be brought about by a consensus among the various major players in the industry in collaboration with the Government.