Innovation is considered to be a key driver of a growing economy. In the context of the Indian economy, innovation as a major driver has gained momentum. With the number of startups increasing faster in India, the discussion on the innovation ecosystem in India has occupied the center-stage. Innovation in India has the potential to play a major role in the fields of employment generation and poverty alleviation. Thus, there needs to be a detailed discussion on the innovation ecosystem in India and what is the government doing to promote it.