Speed Post News Network
New Delhi: Innovation is widely recognized as a central driver of economic growth and development. The Global Innovation Index (GII) aims to capture the multi-dimensional facets of innovation. India’s ranking in GII-2016 jumped 15 places to 66th position. Aiming to strengthen the eco-system of innovation in the country and further improve India’s ranking in GII, the Department of Industrial Policy and Promotion has decided to set up a Task Force on Innovation.
Global Innovation Index (GII) 2016 was recently launched in which India has retained the top rank in Information and Communication Technology Service Export for more than last three years. India is the top-ranked economy in Central and Southern Asia, and shows particular strength in tertiary education and R&D, including global R&D intensive firms, the quality of its universities and scientific publications. India also over-performs in innovation relative to its GDP. India ranks second on innovation quality amongst middle-income economies. As per the report, “India is a good example of how policy is improving the innovation environment”. Recognizing India’s potential to reach great heights in innovation, the Commerce & Industry Minister, Nirmala Sitharaman had directed the setting up of a Task Force which would take forward innovation in India.