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.
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