The issue, among others, was discussed during a meeting between Commerce and Industry Minister Nirmala Sitharaman and World Intellectual Property Organisation (WIPO) Director General Francis Gurry on Friday.
“It was discussed that the methodology of calculating GII also needs to be studied and changed, as appropriate. The parameters should be reflective of the needs and conditions existing in developing nations,” the ministry said in a statement.
India has improved it’s innovation ranking in GII to reach 66th position as compared to its last year’s rank of 81st.
To accelerate innovative temperament in the country Sitharaman, while addressing a function at the launch of the Global Innovation Index report 2016, announced that a dedicated group will be formed to identify and implement expeditiously steps that can be taken by central government to promote innovation.
“A team to be formed to look into results of the Global Innovation Index to understand the challenges related to India and advice the Govt on Next step,” She added.
Chandrajit Banerjee, Director General, CII, “The commitment of India to innovation and improved innovation metrics is strong and growing, helping to improve the innovation environment. This trend will help gradually lift India closer to other top-ranked innovation economies.”
However, the experts pointed that despite rising 15 places in the GII 2016, India continues to lag in several areas important for growth of business and industry such as government effectiveness, infrastructure and knowledge creation.