India’s rise in Global Innovation Index due to progressive policies, collaborative efforts, says Nakul Sharedalal

Ahmedabad: A thriving innovation ecosystem and India’s rise in the Global Innovation Index in the past decade are the result of concerted and collective efforts by the governments and industry stakeholders, says renowned Intellectual Property (IP) lawyer, Nakul Sharedalal.

Dr Sharedalal has been heading the IPR Committee of leading industry body Assocham’s Gujarat Council since 2015. Over these years, he has played a pivotal role in cultivating a culture of innovation and IP awareness in India through extensive engagements including talks, lectures, and collaborations with educational institutions, industry bodies, MSMEs, and SMEs. 

In 2013, India ranked 82nd on the Global Innovation Index. However, it has risen to the 40th spot in 2024.

“This is a big achievement. The nation witnessed a significant leap in innovation landscape after the NDA government came to power in 2014. Collective efforts of government and industry in the form of the introduction of new policies, automation of systems, increased digital adoption, greater awareness, an increased focus on intellectual property rights (IPR), and support for researchers and innovators, have contributed to building a thriving and supportive ecosystem and collectively propelled India’s innovation index,” Dr Sharedalal said, sharing his thoughts on the occasion of World Intellectual Property (IP) Day on April 26.

The World IP Day, celebrated annually on April 26 since the year 2000, commemorates the contributions made by inventors and creators around the world and serves as a reminder of the importance of intellectual property in driving innovation and creativity. This year’s theme, “Sustainable Development Goals: Building our common future with innovation and creativity”, underscores the crucial role of IP in advancing sustainable development efforts.

As the world confronts multifaceted challenges ranging from environmental degradation to social inequality, the need for innovative solutions has never been more pressing. World IP Day 2024 presents an opportunity to explore how intellectual property can catalyse the innovative and creative solutions essential for achieving Sustainable Development Goals (SDGs).

“To build our common future and achieve sustainable development goals, we need to rethink how we live, work and play, and use all the tools available to us, especially our ingenuity and intellectual property. It is the need of the hour to harness the power of innovation and creativity to come up with green and eco-friendly products and sustainable materials to create a sustainable, balanced and brighter future for everyone, everywhere,” Dr Sharedalal said.