India Innovation Index Factors In 2022

While India ranked only 46th in the latest Global Innovation Index report, it has climbed 2 spots over the previous year's standing. And the development performance is labeled 'above expectations' against the yardstick of the level of development.

The Global Innovation Index (GII) takes the pulse of the most recent global innovation trends. It ranks the innovation ecosystem performance of economies around the globe each year while highlighting innovation strengths and weaknesses and particular gaps in innovation metrics.

With the Indian government's relentless focus on making innovation, here are my views on how going ahead, India needs to strengthen its’s performance.

Digital India

National Tech Agenda - We should see MEITY driving strategy and projects around AI, 5G, Blockchain, and sustainable technology for Innovations in India.

Central bank and Technology Adoption - We could see huge acceleration for tech-driven business models with RBI, ReBIT, RBI Innovation Hub, IFSCA, IDRBT, and NPCI.

National Platform Collaboration - The industry will see greater consolidation & collaboration with UPI, Aadhaar, Account Aggregators, Digi-Locker along with Regulators coming together.

Sustainable Technology - The speed of deployment for renewable energy will outpace other energy sources in 2022 and beyond, driven by new investments, innovation, and technology…