40th…Now What? India’s Innovation Index 2023

Source: This post is created based on the article ‘40th…Now What?’ published in The Times of India on 30^th Sep, 2023.

Syllabus Topic: GS Paper 3 – Indian Economy – India’s Industrial Policies

News: India’s innovation rank in 2023 index is still too low.

India’s rise to 40th position in the World Intellectual Property Organisation’s global innovation index.

India has jumped 26 places over the last ten years. It is an appreciable rise. However, India is still low, when compared to other countries.

What are the challenges?

First, Countries like Turkey, Vietnam, the Philippines, and Iran have seen even more significant progress.

Second, India’s modest R&D expenditure poses challenges for its future competitiveness. The index points out that adhering to Moore’s Law is becoming costlier. It anticipated the doubling of computer chip speed and capability every 18-24 months. Establishing factories for advanced chips requires investments exceeding $20 billion.

Third, India has only 4 science and technology clusters in the top 100 globally, compared to China’s 24 and the US’s 21. While Japan, Canada, and South Korea also have 4 clusters, their populations are much smaller than India’s.

Concentration of innovation and capital in cities like Bengaluru, Delhi, Chennai, and Mumbai indicates that a significant portion of India’s potential remains untapped.