The IP index 2019, brought out by the US Chamber of Commerce's Global Innovation Policy Center (GIPC) showed that India ranked 36th of 50 economies, eight places up from 44th place last year. India's overall score has also increased substantially from 30.07% (12.03 out of 40) in the previous edition to 36.04% (16.22 out of 45) in the present edition.

The Union Cabinet has approved the MoU between India and Finland for collaborating based on mutual interest in the field of Biotechnology, for funding and implementing ambitious industry-led innovative and transnational projects within the broad scope of research development and innovation. The MoU will support creation of long-term R&D and Innovation collaboration mechanism and to strengthen cooperative network between Indian and Finnish organizations.

In Bloomberg 2019 Innovative Index, India has debuted among the world’s most innovative countries and has grabbed the 54th position among 95 countries with a total score of 47.93 out of 100. The top 20 nations in 2019 Bloomberg Innovation Index are: South Korea, Germany, Finland, Switzerland, Israel, Singapore, Sweden, United States, Japan, France, Denmark, Austria, Belgium, Ireland, Netherlands, China, Norway, UK, Australia and Canada.

Cabinet has approved Continuation of Atal Innovation Mission (AIM), and for incurring expenditure up to Rs. 1000 crore (€125 million) till 2019-20 by Atal Innovation Mission for expanding Atal Tinkering Labs to 10,000 schools in view of their huge success at school level. The aim of the government's flagship initiative is to promote a culture of innovation and entrepreneurship in the country. 

The Union Cabinet has approved the National Policy on Software Products 2019 to develop India as the global Software Product hub, driven by innovation, improved commercialization, sustainable Intellectual Property (IP), promoting technology start­ups and specialized skill sets. Policy aims to help the industry grow at CAGR of 40% to reach USD 70-80 billion by 2025, while creating employment opportunities for 3.5 million people.