NITI Aayog launches India Innovation Index (III)
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.
Motto of India Innovation Index
- The India innovation index will measure the performance of Indian states and will also rank them on the basis of innovation performance with a aim of developing innovation-driven economy.
- The India innovation index will be based on pillars of sub indices and innovation which will assist together in innovation prices growth economy.
- This index will create a competition between all the states of India and will encourage all of them to be ranked at first.
- 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.
- 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 derived from several sources, including the International Telecommunication Union, the World Bank and the World Economic Forum.
- 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).