Authorities suppose tank NITI Aayog has invited expression of curiosity for preparation of the India Innovation Index 2025, with an goal to encourage states to enhance their innovation setting. In a discover, Niti Aayog stated innovation has at all times been a driver of change and progress in an economic system, because it disrupts conventional practices, encourages new processes, and generates new enterprise fashions.
Over the previous few years, ‘innovation’ has been made a precedence by the federal government in direction of realizing the purpose of a “New India”, it added.
In keeping with the discover, the India lnnovation Index (III) was envisaged to encourage states to look at and enhance their innovation setting and innovation efficiency, which might additional result in an enchancment in India’s total innovation efficiency.
The phrases of reference of the index embody understanding and analyzing the general innovation ecosystem of the nation.
It additionally consists of creating a weighting scheme for every indicator, assigning applicable weights to every indicator based mostly on its relative significance within the total Innovation ecosystem.