India-UK on Global Innovation Partnership
Source : PIB
GS II : Conservation, environmental pollution and degradation, environmental impact assessment
Why in News?
Union Cabinet gives ex-post facto approval to the signing of Memorandum of Understanding between the Ministry Republic of India and United Kingdom on Global Innovation Partnership (GIP).
Key Facts
- India and UK agree to launch the Global Innovation Partnership.
- GIP will support Indian innovators to scale up their innovations in third countries thereby helping them explore new markets and become self sustainable.
- It will also foster the innovative ecosystem in India.
- GIP innovations will focus on Sustainable Development Goals (SDG) related sectors thereby assisting recipient countries achieve their SDGs.
- Through seed funding, grants, investments and technical assistance, the Partnership will support Indian entrepreneurs and innovators to test, scale up and take their innovative development solutions to select developing countries.
- The innovations selected under GIP would accelerate the achievement of Sustainable Development Goals
- It also benefit the base of the pyramid populations thus promoting equity and inclusivity in recipient countries.
- GIP will also develop an open and inclusive e-market place (E-BAAZAR) for cross border innovation transfer
- It will focus on results based impact assessment thereby promoting transparency and accountability.
Innovations in India
- Government has an initiative in place to encourage companies to manufacture their products there called Make In India
- Also India have National Innovation Foundation to support innovation, Start-up India.
- Technology is clearly the biggest area of transformation in India..
- Advantage for India to attract foreign investments in innovations
- Lower wages and an open
- Democratic government
- Rule of law
- Intellectual property is much better counter part like China
- Some Flaws in India
- In terms of world-class manufacturing, India still lags behind.
- Physical infrastructure is not up to par—particularly in the cities.
National Innovation Foundation
- It is an Autonomous Body of Department of Science and Technology, India was set up in March 2000.
- Aims to strengthen the grassroots technological innovations and outstanding traditional knowledge.
- Its mission is to help India become a creative and knowledge-based society by expanding policy at grassroots technological innovators.
- It also tries to ensure that such innovations diffuse widely through commercial and non-commercial channels, generating material or non-material incentives for them and others involved in the value chain.
- NIF provide institutional support in scouting, spawning, sustaining and scaling up grassroots green innovations as well as outstanding traditional knowledge and helping their transition to self-supporting activities.
- INSPIRE Award – MANAK (Million Minds Augmenting National Aspiration and Knowledge) is being revamped and executed by Department of Science & Technology and National Innovation Foundation-India.
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