India Innovation Index Current Affairs

Enter Your Email Address To Subscribe Current Affairs Daily Digest, Daily Quiz and other updates on Current Affairs:

NITI Aayog launches India Innovation Index

The National Institution for Transforming India (NITI) Aayog and Confederation of Indian Industry (CII) jointly launched India Innovation Index. Besides country’s first innovation index portal was also launched.

The index has been jointly developed by NITI Aayog, DIPP and CII in consultation with World Economic Forum (WEF), World Intellectual Property Organization (WIPO), Cornell University, UNIDO, ILO, OECD, UNESCO, ITU etc.

Key Facts
  • The index’s objective is to rank Indian states on innovations through the portal that will capture data on innovation from all states on innovation and regularly update it in real time.
  • It will provide impetus to state to build their respective innovation ecosystems and spur the innovation spirit among institutions and people to make India an innovation-driven economy
  • It will be structured based on the best practices followed in Global Innovation Index (GII) indicators and additionally by adding India-centric parameters those truly reflect the Indian innovation ecosystem.
  • The pillars of index include the capacity of human capital and research, strength of institutions, supporting infrastructure and the level of business sophistication, among others.
  • The portal will coalesce, disseminate and update periodically GII indicators and India–centric data from various states. It will be hosted on the NITI Aayog website.
  • It will be a one-stop data warehouse and will track progress on each indicator at the National level and the State level on real-time basis.
Background

The Global Innovation Index (GII) co-published by WIPO, Cornell University and INSEAD ranks world economies including India since 2007 according to their innovation capabilities and outcomes. It uses 82 indicators among a host of other important parameters. It has become a leading reference on innovation and a ‘tool for action’ for policy makers. Currently, India ranks 66th out of 128 countries on the 2016 Global innovation Index (GII).

Tags:

India Innovation Index to measure performance of Indian states

The World Economic Forum (WEF), NITI Aayog, World Intellectual Property Organization (WIPO) and Cornell University will work to develop an India Innovation Index to provide impetus to states to drive innovative spirit.

Based on the WIPO’s GII (Global Innovation Index), the India Innovation Index will be tailored to better reflect of India’s ground reality and include metrics well suited to the Indian context for innovation.

Key Facts
  • The India Innovation Index will measure and rank the innovation performance of all states in India with the aim of moving India towards an innovation-driven economy.
  • It will be based on key pillars of innovation and sub-indices that together will assist in tailoring policies for innovation that inturn will promote inclusive growth.
  • The pillars of index include the capacity of human capital and research, strength of institutions, supporting infrastructure and the level of business sophistication, among others.
  • Each partnering organization will nominate a working group member to work on the index. The first ranking of Indian states will released at the India Economic Summit to be held in October 2017.
  • This index will encourage states to compete with each other and, in turn, lead to better policies for inclusive growth.
  • It will create a transparent benchmark of innovation for Indian states and spur competition among states. It will also ensure progress towards innovation at the local level in India.

Tags:

Advertisement