A new indicator for innovation ‘India Innovation Index’ is being launched later this year that will capture data on innovation from all Indian states and rank them on various innovative practices. The Government of India’s NITI Aayog, the Department of Industrial Policy & Promotion (DIPP) and the Confederation of Indian Industry (CII) have come together to introduce the country’s first online innovation index portal in their endeavour to make India an innovation-driven economy.
The India Innovation Index will measure the performance of all Indian states and rank them as per their innovation prowess and provide impetus for building their respective innovation ecosystems and spur the innovation spirit among institutions. Its framework will be structured on the best practices followed in the Global Innovation Index and will be created in consultation with World Economic Forum, the World Intellectual Property Organization, Cornell University and additionally by adding India-centric parameters those truly reflect the Indian innovation ecosystem. This initiative will be the point of reference for all international agencies to collect India’s latest data points for global indices.
Work is in the advanced stage of completion and the index’s first rankings are likely to be released at the Indian Economic Summit in October 2017. This index will boost the competition and will ensure the innovation at the local level in the country. The Global Innovation Index is released by the World-Intellectual Property Organization, Cornell University and INSEAD, which has been ranking world economies including India since 2007 according to their innovation capabilities using 82 indicators. India currently ranks 66th out of 128 countries on the Global innovation Index in 2016.
Date: 23.05.2017 | Source: Press Information Bureau