NITI Aayog India Innovation Index: Karnataka tops list for third year running

After first two editions, Karnataka has once again topped the third edition of NITI Aayog India Innovation Index

Karnataka has ranked first in the NITI Aayog's India Innovation Index (2021 report) for a third time in a row; the state has topped the list in both previous editions too.

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IT minister Ashwath Narayan tweeted: "Karnataka does it again! The State has topped in the NITI Aayog's India Innovation Index 2021 thanks to able leadership and guidance of PM Narendra Modi avaru, (former chief minister) BS Yedyiurappa avaru. Our government, led by chief minister Basavaraj Bommai avaru, is thankful to the industry for its support."

The India Innovation Index ranks states and union territories on the basis of innovation capabilities. The first edition was released in October 2019 and second in January 2021.

In the latest edition Telangana, Haryana and Maharashtra stood second, third and fourth in the list of top states. Manipur topped the 'North East and Hill States' section and Chandigarh won the 'Union Territory and City States' category.

The report attributed Karnataka's high score to its peak performance in attracting FDI, or foreign direct investment, and a large number of venture capital deals.

"Innovation is the key to sustainable and inclusive growth. It can help us solve the biggest challenges of our times: bringing millions out of poverty, generating livelihood opportunities, and paving the way for an Aatmanirbhar Bharat," NITI Aayog member Dr VK Saraswat, present at the launch of the report, said.

Examples of the state's performance have been seen in recent months,

Earlier this week Ola Electric - a manufactuer of electric two-wheelers based in Bengaluru - said it would invest $500 million in a battery innovation center to be set up in the city.

Days earlier the State Bank of India said it would start a separate branch in Karnatka for facilitating the necessary credit facility for startups. This will be operational next month.