India Ranks 48 on the Global Innovative Index – What Does the Future Road of Innovation Look like?

India has improved its ranking in the Global Innovation Index for the year 2019 by jumping four ranks taking India into the 50 top innovative countries of the world at 48^th rank. The World Intellectual Property Organization (WIPO) that issues this ranking also accepted India as one of the leading innovation achievers of 2019 in the central and southern Asian region, and noted  its consistent improvement in its innovation ranking for the last 5 years.

Immense knowledge capital, a vibrant startup ecosystem, and the amazing work done by the public and private research organizations are the factors slated to be behind the consistent improvement in the global innovation index.

India aims to take this further by not seeking an incremental change but a paradigm shift in the future index. The aim is now to breach the top 25 ranking of innovative nations of the world.

Here are the factors which can be banked upon to take India up in the innovation index.

• The space sector has been thrown open to private sector as well during the reforms undertaken in the Covid-19 phase. A lot of innovations can be expected in this sphere.
• The NITI Aayog has been working tirelessly to ensure optimization of national efforts in this direction by bringing policy led innovation in different areas such as EVs, biotechnology, Nano technology, Space, alternative energy sources, etc. The India Innovation Index, which was released last year by the NITI Aayog, has been widely accepted as a major step in the direction of decentralization of innovation across all the states of India.

Thus, the future road of innovations clearly can only become better considering the reforms and system that this government is bringing on ground consistently.