National Manufacturing Innovation Survey (NMIS) 2021-22

Tags: Reports Economy/Finance

Dr. S. Chandrasekhar, Secretary, Department of Science and Technology, released the “National Manufacturing Innovation Survey (NMIS) 2021-22: Summary for Policymakers" on April 27, 2023.

Major Findings of the report

• 25.01% of the 8,074 firms surveyed were considered innovative.

• The 25% of firms that reported innovation in the survey saw 83% increase in turnover and 80% opening up new opportunities in the market.

• Only 15% of micro firms are innovative while it is 56% in large firms.

• Over 45% of firms reported that lack of funding within the firm or group was the most common constraint, followed by high innovation costs (40.30%) and lack of finance from external sources (39.52%).

• The most important constraints were the low demand for innovations in the market (71.23%).

What is the NMIS survey?

• It is a joint study by the Department of Science and Technology (DST) and the United Nations Industrial Development Organization (UNIDO) to evaluate the innovation performance of manufacturing firms in India.

• The study is a follow-up to DST's first National Innovation Survey conducted in 2011.

• The survey had two distinct components: the firm-level survey and the Sectoral Systems of Innovation (SSI) survey.

• The study was not designed to assess the effectiveness of specific policies individually or collectively.