The World Economic Forum, NITI Aayog, the World Intellectual Property Organization and the Cornell University will work together to develop an India Innovation Index that will provide impetus to Indian states to drive the innovative spirit.
This index will encourage states to compete with each other and, in turn, lead to better policies for inclusive growth.
Each partnering organisation will nominate a working group member to work on the index.
The first ranking is expected to be released at the India Economic Summit in New Delhi on October 4—6, 2017.
The index will be based on key pillars of innovation and sub—indices that together will assist in tailoring policies that promote inclusive growth.
The pillars include the strength of institutions, capacity of human capital and research, supporting infrastructure and the level of business sophistication, among others.
The index will measure and rank the innovation performance of all Indian states with the aim of moving India towards an innovation—driven economy.
The index will spur competition and ensure progress towards innovation at the local level in India.
Francis Gurry is the Director-General of the World Intellectual Property Organization (WIPO).
