India Innovation Index Likely to be Ready by October 2017

The India Innovation Index that is focused on state-wise development is nearing its completion and is in the advanced stage of preparation. The India Innovation Index is likely to be ready by October 2017 and noted academician Soumitra Dutta confirmed the same.

Currently, Soumitra Dutta has been working on the India Innovation Index along with World Intellectual Property Organisation or WIPO, World Economic Forum (WEF) and Niti Aayog. The major objective is to create a ‘model for innovation’. The creation of India Innovation Index will be based on Global Innovation Index. However, it is customized to the specific needs and requirements for the development of India.

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Soumitra Dutta is the Co-Editor of Global Innovation Index and holds the position of Dean for College of Business at Cornell University that is located in United States of America or USA. The main aim of India Innovation Index is to rank and measure the performance of all Indian states. The outcome of the index is to make India an innovation-driven economy.

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The first rankings will be released at Indian Economic Summit that is going to take place in the first week of October 2017. Mr. Dutta further explained that they are confident of releasing the results by October and they are in the process of collecting the data. He indicated that there are more challenges in the process as it will be the inaugural edition of rankings. The index will boost the competition and ensure innovation at the local level in the country.

He further expressed that the government shall boost investments in research and development activities. For this purpose, the government needs to look at incentives for private players.