Author: Mousumi Roy

India wants to become a major innovation economy. The ambition is visible everywhere: in the language of startups, artificial intelligence, digital public infrastructure, semiconductors, venture capital and global capability centres. We rightly speak of talent, capital and technology as the engines of the future. But there is another condition of innovation that is easier to ignore because it usually works silently in the background: institutions. Entrepreneurs like to think of themselves as agents of progress. They build products, raise money, hire engineers and disrupt old sectors. In technology, especially, there is a strong belief that the future belongs to those…