NITI Aayog releases 3rd edition of India Innovation Index
Recently the third edition of India Innovation Index (Year 2021) has been released by NITI Aayog.
This index has been prepared by NITI Aayog and Institute for Competitiveness.
It provides ranking to states and union territories on the basis of their innovation performance. This creates a sense of healthy competition among them.
Key Findings of the Index
The highest ranked states in different categories are:
- Major States: Karnataka,
- Northeast and Hill States: Manipur and
- Union Territory and City-State: Chandigarh
Investment in research and development (R&D) in the country was 0.8% of GDP in the year 2008-09. It had come down to 0.7% in the year 2017-18.
Private sector participation in research and development (R&D) has been low.
The 7 pillars of the index include –
- ‘Enablers’ measure the five-column input. These inputs are essential for promoting innovation.
- The two pillars associated with ‘Performance’ measure the output. These outputs reflect the benefits associated with knowledge creation and competitiveness of the nation.
- India is ranked 48th in the Global Innovation Index 2021 released by the World Intellectual Property Organization (WIPO).
Importance of India Innovation Index
- This index provides policy makers and other key stakeholders a comprehensive assessment of the spatial characteristics of India’s innovation system.
- It identifies the challenges that regional economies face while making full use of their innovative potential. It also suggests solutions to address those challenges.
Source- The Hindu