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India Innovation Index

Posted on July 20, 2022 by admin1  60

In News

  • Recently, NITI Aayog said that it will release the third edition of its India Innovation Index.

About India Innovation Index

  • Body: The India Innovation Index is released by NITI Aayog and the Institute for Competitiveness every year.
  • Previous editions: The first and second editions were launched in 2019 and 2021 respectively.
  • Aim: To rank states and UTs based on their scores, recognize opportunities and challenges, and assist in tailoring government policies to foster innovation.
    • It examines states’ innovation capacities and ecosystems at the sub-national level, highlights the recent factors and catalysts for promoting such crisis-driven innovation.
  • Indicators: The new framework presents a more nuanced and comprehensive outlook for measuring innovation performance in India.
    • With the introduction of 66 unique indicators, as compared to the 36 indicators used in the preceding edition.
  • Coverage: The index evaluates the innovation performance of all the states and union territories in India.
    • The states and the union territories have been divided into 17 major states, 10 northeast and hill states and 9 Union Territories and city-states for effectively comparing their performance.

Significance of India Innovation Index

  • Resilience and crisis-driven innovation have helped India bounce back in tough times.
  • Global Innovation Index: The latest report strengthens the scope of innovation analysis in the country by drawing on the framework of the Global Innovation Index (GII).
  • Innovation is at the forefront of India’s ‘Make in India’ and ‘Aatmanirbhar Bharat’ initiatives.
  • Scale-up its manufacturing: With the thrust from innovation, India can scale-up its manufacturing and develop its export competitiveness.
  • Identifying Strength and weakness: It portrays the innovative capabilities of the States, highlighting their strengths, which can be replicated in others, and weaknesses, which can be rectified.
  • Entrepreneurship and attracting start-ups: It will also help states to assess their own capacities in identifying areas that have the potential to boost the development of innovation-led entrepreneurship and attract start-ups and hi-tech companies.
  • Cooperative and competitive federalism: This index in the spirit of cooperative and competitive federalism will allow the sharing of good practices between States/UTs to widen and replicate the innovation landscape across the country especially in the parts that have the potential to become hubs of innovation.

Source: PIB

 
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