India's innovation ecosystem has been performing impressively in recent years, with a surge in IP filings and a strong presence in the start-up scene. The country's ambition for economic development and innovation is evident, and it has been climbing the Global Innovation Index rankings consistently. However, while India's innovation landscape looks promising, there is a global decline in innovation-related spending, including a drop in venture capital investment and research and development expenditures. India's own R&D investment remains relatively low compared to global leaders. Experts emphasize the need for India to increase investment in R&D and academic research to keep pace with global leaders in innovation and technology.