RBI ESINABARD ESISEBI
In one line
Context:
India has a rich history of contributions across science, arts, metallurgy, astronomy, and medicine. As the country aspires to become a $5 trillion economy, leveraging creativity and innovation across all levels is essential.
Global Creative Economy Trends (UNCTAD 2024)
- Global creative services exports reached $1.4 trillion in 2022 (up 29% since 2017).
- Creative goods exports hit $713 billion (up 19%).
- Combined, the creative economy supports over 50 million jobs globally and generates $2 trillion in annual revenues.
India’s Creative Economy Snapshot
- In 2019, India exported $121 billion in creative goods and services.
- Creative services made up $100 billion.
- Design sector: 87.5% of creative goods exports.
- Arts and crafts: around 9%.
- In 2024, India’s creative economy is valued at $30 billion, employing 8% of the workforce.
- Creative exports rose by 20% last year, generating over $11 billion.
Types and Sources of Creativity:
- Creativity is classified into:
- Deliberate & Emotional
- Deliberate & Cognitive
- Spontaneous & Emotional
- Spontaneous & Cognitive
- Innovation often stems from deliberate and cognitive creativity — a key feature of grassroots innovation in India.
From Creativity to Innovation: Bridging the Gap:
- Creativity is often individual-based, while innovation needs institutional support.
- India has abundant grassroots creativity, but a lack of infrastructure and investment hinders conversion into scalable innovation.
- Notable grassroots innovations: Mitticool clay refrigerator, pedal-powered washing machines, amphibious bicycle — need funding and IPR protection.
Investment and Policy Support Needed
- India needs a robust ecosystem to support creativity and innovation — especially at grassroots levels.
- Suggested initiatives:
- ‘One District One Innovation’ (on the lines of ODOP).
- Stronger IPR frameworks for informal and indigenous innovations.
- Increased climate adaptation investments at local creative levels.
- In 2023, climate tech in India received $2.85 billion, but grassroots creativity received a negligible share.
Road Ahead
- A national strategy must balance high-tech and grassroots innovation.
- Public-private partnerships, educational institutions, and local governments should jointly nurture India’s creative capital.
- Creativity must be seen not just as cultural expression but as a strategic economic resource.
