Under the conditions of tough competition and complicated economic situation, transition of the economy to the innovative social oriented model of development is of the ways to achieve the goal of different strategies of the economy development. In spite of a lot of various opinions, BRICS can determine the «face» of the world in future and in some degree it depends on innovative type of development. India announced current decade as the decade of innovation, which is oriented to stimulation of economic growth.

National innovation system, innovation, competitiveness, IT-industry, Silicon Valley, Indian economy, BRICS