Intelligent machines challenge to job creation: Sharma

Another challenge faced by technology is ensuring sustainable development, he said.

Sharma said intelligent machines are emanating from nations with a greying population such as Japan and Germany.

"These countries cannot grow economically without intelligent machines. The situation is just the opposite in India which has a vast young population. Since we cannot stop the march of technology, planners in India must figure out how to create jobs in a changing environment," Sharma said at an event of the Merchants' Chambers of Commerce & Industry here.

Diffusion of technology is not as rapid in MSMEs as it is in large companies, he said.

Sharma said the department has introduced a new policy - Scientific Social Responsibility (SSR).

"Connecting with MSMEs is part of SSR policy. SSR has the potential to fundamentally transform society by improving lives of our citizens while helping the nation achieve its goals for sustainable development," Sharma added.

Corporate Social Responsibility (CSR) funds earmarked by companies can be used for R&D purpose now, he said adding that a corporate can now finance an R&D project from its CSR fund, with matching contribution by the government.

He said India is ranked third in the number of startups.

The country has 28,000 start-ups of which 15,000 are based on technology. The department is supporting 3,000 start-ups through 120 incubators, he said.