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Source: The post is based on the article “Karnataka ranked the most ‘innovative’ State in manufacturing” published in The Hindu on 2nd May 2023
What is the News?
National Manufacturing Innovation Survey (NMIS) 2021-22 has been released.
What is the National Manufacturing Innovation Survey (NMIS) 2021-22?
Conducted by: Department of Science and Technology (DST) and the United Nations Industrial Development Organization.
Aim: To evaluate the innovation performance of manufacturing firms in India.
What are the key findings of the NMIS 2021-22?
Innovative state: Karnataka is the most “innovative” State followed by Dadra and Nagar Haveli, Daman and Diu (DNH&DD), Telangana and Tamil Nadu.
Innovative firms: Telangana, Karnataka, and Tamil Nadu had the highest share of innovative firms while Odisha, Bihar, and Jharkhand reported the lowest share of such firms.
Innovation products made by firms: Nearly three-fourths of the firms surveyed with most of them micro, small, and medium enterprises (MSME) neither made any innovative product nor business process innovation during the survey period of financial years 2017-2020.
– However, nearly 80% of the firms that did report significant gains such as expanding markets and reducing production costs.
Barriers to innovation: The most frequent “barriers to innovation” were the lack of internal funds, high innovation costs, and lack of financing from external sources.
– Gujarat and Dadra and Nagar Haveli, Daman and Diu (DNH&DD) reported the highest frequencies of barriers to innovation.