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3. NITI Aayog to Launch Second Edition of India Innovation Index 2020

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    20th Jan, 2021

Context

NITI Aayog will release the second edition of the India Innovation Index 2020.

What is India Innovation Index 2020?

  • The India Innovation Index 2020 seeks to rank the states and union territories based on their relative performance of supporting innovation, and to empower them to improve their innovation polices by highlighting their strengths and weaknesses.
  • The first was launched in October 2019.
  • The states and union territories have been divided for effectively comparing their performance:
    • 17 ‘Major States’
    • 10 ‘North-East and Hill States’
    • 9 ‘City States and Union Territories’
  • The states and union territories have been ranked on two broad categories: outcome and governance.
  • Overall, the framework of India Innovation Index 2020 consists of 36 indicators, which include hard data (32 indicators) and four composite indicators.
  • The index captures the trends and provides detailed analyses of the various factors that drive innovation at the country, state, and district levels.

How the Innovation Index is significant?

  • Innovative economy:The release of the second edition of the indexdemonstrates the Government’s continued commitment towards transforming the country into an innovation-driven economy.
  • Best practices:The ranking methodology is designed in a way that states can draw lessons from the national leaders in innovation.
  • Competitive federalism: This will lead to a healthy competition among the states and union territories, thereby fostering competitive federalism.
  • Catalyst and inhibitors:It is believed that these analyses would enable policymakers in identifying catalysts and inhibitors of innovation at the national and sub-national levels.

What changes are made in this year’s Index?

  • More metrics:India Innovation Index 2020 builds on the previous year’s methodology by introducing more metrics and providing a holistic outlook of the Indian innovation ecosystem.
  • Global parameters: The framework has been updated to include globally considered parameters for measuring innovation (such as the percentage of gross domestic product spent on research and development), while also retaining the parameters specific to the Indian economy.