DPIIT along with the World Intellectual Property Organization will release the Global Innovation Index 2019 on Wednesday that details the metrics about the innovation performance of 129 countries around the world. Its 80 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication.
“We are definitely hoping an improvement as we have improved in indicators like ease of doing business,” Abhishek said on Tuesday.
It ranked India as the 57th most innovative nation in the world in 2018, higher than its 60th position the year before that. India is aiming to break into the top 25 tally.
He said TRIPS (Trade Related Aspects of Intellectual Property Rights), an agreement under the World Trade Organization, provides sufficient flexibilities to take steps whenever a specific issue emerges regarding high prices of patented medicines.
Under this agreement, India can grant ‘compulsory licence’ to a company to manufacture generic version of a patented medicine.
Themed around medical innovation this year, the index will analyse the medical innovation landscape and dynamics of medical innovation in healthcare and its potential influence on economic growth.