India aspires to take its Global Innovation Index ranking to top 25: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal

With India climbing six notches to 40th position in the Global Innovation Index 2022, Commerce and Industry Minister Piyush Goyal on Thursday said the country aspires to take its ranking to the top-25 in the coming years. He further said India had come a long way in the Global Innovation Index (GII) from the 81st spot in 2015 to the 40th position in 2022.

"We were 46 last time the ranking was done. We have also maintained 1st rank in ICT services exports over the years... India today aspires to take our ranking in the GII amongst top 25," he said while delivering a virtual message to mark the launch of the latest edition of the index by the World Intellectual Property Organization (WIPO).

The index, he said, has over the years recognised India's continuous rise due to the progressive measures taken by the government and industry working hand in hand.

Ancient scientific knowledge, including the Vedas and traditional medicine, are a testament to India's innovative spirit, he added. Goyal also said as the importance of the 'knowledge economy' grows, innovation will lay the roadmap for development in India.

He added that incubation, hand-holding, funding, industry-academia partnership and mentorship have stirred entrepreneurial spirit across the country. "To further strengthen innovation, we have introduced the National Education Policy...We encourage youth to develop solutions to society's problems," he said.

India climbed six notches to 40th position in the Global Innovation Index 2022 on account of improvement in several parameters, according to a report by the Geneva-based WIPO. Switzerland, the United States, Sweden, the United Kingdom and the Netherlands are the world's most innovative economies, according to WIPO's 2022 Global Innovation Index, with China on the threshold of the top 10.