Innovation will play a very important role in India not only for overall growth and competitive advantage but also for the future development of India to be sustainable and inclusive. In our country, there is a lack of demand in the most important sectors such as health, education, agriculture, energy, and skills. There are many challenges in this country in terms of population as well. For example, 55 crores population is of age group of less than 25 years, it is necessary to provide opportunities to them. For that, there is a challenge of growth and development of disparity in various aspects such as class, caste, gender, region and at the same time, there is an urgent need to bring millions of citizens trapped in extreme poverty above to poverty line. Innovations is the answer of the pressing challenges and is at the heart of all initiatives. When the knowledge-based economy is created, the opportunity structure for the distribution of the benefits generated from it is also created through such innovation. Affordable solutions in common sense innovative business models or processes make it easier for common citizens to access services and more people participate in the development process by going beyond the traditional way of working. However, our only need is to explore new paradigms of innovation with an emphasis on affordable and inclusive growth for the masses and lifting the low-income people at the bottom of the triangle out of poverty and deprivation. The unfortunate thing is that in the past several decades, innovation and research have given priority to the demands of the developed, and more emphasis has been placed on fulfilling the wishes of the rich, and the entire system of intellectuals and capital is being used to satisfy them. India will not be able to accept this path rather than the research in our country and innovations need to focus on the poor and the urgent needs of poor people. The traditional old consumption approach will no longer work. Given our huge population and immensity, our innovation should use scarce resources sparingly and our research and innovations should be affordable and environmentally sustainable, the work of India's National Innovation Corporation reflects this philosophy. It strives to develop an image of innovation created by the people - for the people - of the people for a development India. Only through such an inclusive approach where people are the beneficiaries of knowledge creation can we create images of sustainable development.