Reinventing India as an Innovation Nation

Innovation has become a tool for competitiveness as well as accelerated inclusive growth.An often used definition of innovation is that it is a process that translates knowledge into economic growth and social well being. It emphasizes a series of scientific, technological, organizational, financial and commercial activities. Education disseminates knowledge, research creates new knowledge and innovation converts that knowledge into wealth and social good. European Union (EU) had declared 2009 as the year of creativity and innovation for EU whereas India has declared the decade 2010-20 as the Indian Decade of Innovation. India would be taking the first definite steps towards a position of global innovation leadership in this period.