India has come long way in Global Innovation Index: Piyush Goyal

New Delhi, Sep 30 (Agency) India has come a long way in the Global Innovation Index (GII) from the 81st spot in 2015 to the 40th spot in 2022, Union Minister for Commerce and Industry Piyush Goyal said on Thursday. ‘We were 46 last time the ranking was done. We have also maintained 1st rank in ICT services exports over the years,’’ he said while delivering a virtual message to mark the launch of the Global Innovation Index, 2022 by the World Intellectual Property Organization (WIPO). Goyal said GII has established itself as a tool for Governments across the world to reflect upon policies and their impact. “GII has over the years recognized India’s continuous rise due to the progressive measures taken by the government and industry working hand in hand,” he said.

The minister said India had established the first of its kind Global Centre for Traditional Medicines in collaboration with the WHO, representing India’s ancient scientific prowess. Goyal said as the importance of the ‘knowledge economy’ grows, innovation will lay the roadmap for development in India. “We have been working to strengthen Research & Development across sectors as amplified by Prime Minister Shri Narendra Modi’s clarion call to make innovation our nation’s mission,” he added. Stating that agility, enthusiasm and energy of youth are powering the start-up ecosystem, he pointed out that India is today the 3rd largest start-up ecosystem and is home to over a 100 unicorns. “Start up revolution has spread across India. Over half the start-ups are from remote small towns”, he said.