India’s position has been gradually improving on the Global Innovation Index ever since Prime Minister Narendra Modi stormed to power. Even this year, India has improved its ranking in the Global Innovation Index and currently stands at the 46th position as opposed to 48th last year, per the report prepared by the World Intellectual Property Organisation (WIPO).
The GII report stated, “India (at 46) moves further ahead, by two spots (48 in GII 2020), after making it into the top 50 last year. It takes second place in the lower-middle-income group. India held the third position in its income group in 2019 and 2020, having entered the top three in 2019.”
India Becoming a Hub of Innovation
The Global Innovation Index, which ranks countries on their ability to innovate, indicates that India has been successfully developing technologically dynamic services which can be offered across the globe. Additionally, the report emphasized that the country leads the world in the information and communication technology services exports indicator. Moreover, it also stands in a good position in other indicators such as domestic industry diversification (12) and graduates in science and engineering (12).
The Modi government also in an official statement commented on the improvement in the GII ranking, “The gradual improvement in the GII ranking is due to knowledge capital, a vibrant start-up ecosystem and work done by public and private research organisations.”
From 81stposition in 2015 to 46th in 2021
India has consistently improved its ranking since the Modi government came to power. The country was ranked at 81st position in 2015 while the country was ranked at the 57th spot in 2019. It rose 15 places in 2016 to the 66th position and 6 places in 2017 to the 60th rank and 3 places in 2018 to the 57th rank. It kept on rising with 52nd rank in 2019 and then 48th in 2020. “The performance improvement of India is particularly noteworthy,” reads the Global Innovation Index report.
The country has been ranked as the most innovative country in the South and Central Asian region, a distinction the country has maintained since 2011. The neighbouring countries like Bangladesh, Pakistan, and Sri Lanka rank way behind India.
Supportive ecosystem to be credited
However, there are multiple schemes and programs launched by the Indian Government that have to be credited for the achievement and growth in the country. The Modi government, in 2015 and 2016 respectively, had launched two programs named Startup India and Standup India. These programs encouraged entrepreneurship among the youth of the country. Catalysing innovation, productivity and creating a huge number of jobs as well, the Startups are growing due to investors’ trust in the Indian market and favourable governmental policy.
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Additionally, the Make in India program has worked wonders in making India a global hub for manufacturing. In 2014, there were only 2 manufacturing units in India but since the launch of ‘Make in India’, the number has increased to more than 130 as of 2020.
Make in India, coupled with Atma Nirbhar Bharat Abhiyan under which Production Linked Incentive (PLI) scheme was launched to help India emerge as a global manufacturing hub.
Read more: From an importer to an exporter: How India became a manufacturing hub of smartphones under PM Modi
With the Prime Minister’s efforts and strategies to develop India, the economy is coming on track. In fact, the country is witnessing near double-digit growth for the last seven years. Moreover, India has made remarkable improvements in Business Environment Index, Technology Index and Corruptions Perception Index ranking as well.