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Web Exclusive | November 2017

India ranks 60th in Global Innovation Index

Addressing a large audience, while delivering Guest of Honour and Key Note Address on “Innovations in Management and Social Sciences”, at the IIF, G-Noida, Dr JD Agarwal, Sr Professor and Founder Chairman, Indian Institute of Finance and Editor-in-Chief, Finance India at Amity University, Gwalior said India improved 6 ranks this year and ranked 60th overall in the Global Innovation Index this year and is also among the top 50 economies in Market sophistication (39th) and Knowledge and technology outputs (38th).

The conference was inaugurated by Lt Gen VK Sharma, Vice Chancellor, Amity University, Madhya Pradesh. Other speakers who shared their thoughts were Prof Ashish Chandra, Professor, University of Houston, USA and Rick Cran, Founder and CEO, Cran Enterprises. The conference was attended by over 600 delegates and students, researchers and faculty members.

While speaking on Innovations, Prof Agarwal said that the world has moved over the years from bullock carts to planes & bullet trains; from single storey houses to multi-storey buildings; from satellites to drones; from handwritten texts to typewriters to computers, lap tops and now mobiles & selfies; from telephones to apps and whats up video conversations etc.. Innovation presumes creativity, but creativity does not necessarily entail innovation.

While defining Innovation, Prof Agarwal strongly said Innovation is "new idea, device or method". However, Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. While revolution is a fundamental change in political power or organisational structures that takes place in a relatively short period of time when the population rises up in revolt against the current authorities or system

Prof Agarwal lauded India‘s Civilised Past. He said that India has today become self reliant. India invented the Number System and also Zero. Aryabhatta was the first to explain spherical shape, size ,diameter, rotation and correct speed of Earth in 499 AD. The World's first university was established in Takshila in 700 BC. Students from all over the World studied more than 60 subjects. Sanskrit is considered the mother of all higher languages.

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