Knowledge Economy: An Indian Perspective

Abstract

Indian form of knowledge and wisdom touches physical, psychological and philosophical aspects of life. Knowledge is considered as light that shows the path of success and failure. It is something which illuminates and reveals about the world of none and forms the basis of living a morally and ethically good life. In previous some decades the concept of knowledge has been changed that talks about the materialistic aspects of Knowledge and at the same time, discussion about the ‘Knowledge Economy’ has been started to create values from it so that humans can get better standard of life along with qualitative and quantitative growth. Knowledge economy has created an environment of working together in groups for improving competencies at various institutions. One of the common and basic necessity of Knowledge economy is to have better and competent workforce in academic research and development which further results into creating a value for development of any individuals, groups, community, institutions, state and nation. The capacity to use information and communication technologies (ICT), solve issues, work in teams, supervise and lead, and engagement in continuous learning are just a few examples of the workplace abilities that a competent workforce must possess. This article will examine the value of interdisciplinary academic research and development from Indian perspective of knowledge economy. Additionally, it examines the degree to which new "workplace competencies" are becoming normative with the help of secondary data.