Enhancing innovation

27 SEP,2021 | MEDC


 

India has improved its ranking in the Global Innovation Index 2021. We are now ranked 46th among 132 economies, up from 48 in the previous year's ranking. The rise may be marginal, but it shows progress. India ranks second among 34 lower middle-income group economies and first among the 10 economies in Central and Southern Asia. India’s large pool of graduates in science and engineering disciplines and global corporate R&D remain its primary strength. As we venture into an increasingly uncertain future, the need for an innovative mind-set will keep rising. We also need to carefully distinguish jugaad from innovation. Our education system should promote experimentation and develop a culture that allows young minds to be unafraid to try out new things, even at the cost of some inevitable failures. In this regard, suitably planned academia-industry interactions will go a long way.

*Photo Credit: Google

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