India jumps to 46th position on Global Innovation Index

In the recently released Global Innovation Index, India’s rank increased substantially. In this regard, discuss the need for innovation in India, the steps taken by Government to boost innovation in the country, and the lacunae that remain.   (250 Words)

Approach:

• Introduce by giving a brief understanding of innovation. Give a statistic on R&D output of India if possible
• Discuss the various challenges India faces today and the need for innovation to solve these challenges.
• Enumerate major steps taken by the government in recent years to promote innovation and entrepreneurship in country
• Highlight major challenges in the innovation ecosystem of India.
• Way forward and Conclusion