Why In News
India has climbed 2 spots and has been ranked 46th by the World Intellectual Property Organization in the Global Innovation Index 2021 rankings.
India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 46 in 2021.
India ranks 2nd among the 34 lower middle-income group economies and 1st among the 10 economies in Central and Southern Asia.
NITI Aayog, in partnership with the CII and WIPO to host India Launch of the Global Innovation Index 2021and the CII Global Innovation Conclave during September 21-22, 2021
Highlights of Global Innovation Index (GII)
Title: Index Report is titled as "Tracking Innovation through the Covid-19 Crisis"
Developed By: It is developed Jointly by Cornell University, INSEAD and World Intellectual Property Organization.
The 2021 edition (14th) of the GII presents the latest global innovation ranking of 132 economies, relying on 81 different indicators.
Top 5 Countries: Switzerland, Sweden, the United States, Britain and South Korea have been ranked as the most innovative economies.
Bottom 5 Countries: Bottom five countries are Benin, Niger, Guinea, Yemen and Angola.
Asian Countries: Four Asian economies feature in the top 15: Singapore (8), China (12), Japan (13) and Hong Kong, China (14).
Indicators of Global Innovation Index
Indicators: The index ranks world economies according to their innovation capabilities and consists of roughly 80 indicators grouped into innovation inputs and outputs.
Innovation inputs: Institutions; Human capital and research; Infrastructure; Market sophistication; Business sophistication.
Innovation outputs: Knowledge and technology outputs; Creative outputs
India's Performance in GII
India ranks second among 34 lower middle-income group economies and first among the 10 economies in Central and Southern Asia.
Relative to gross domestic product (GDP), India’s performance is above expectations for its level of development, WIPO said in a statement.
The consistent improvement in India’s GII ranking is because of the immense knowledge capital, the vibrant start-up ecosystem, and the amazing work done by the private and public research organizations.
The scientific Department in India such as the Department of Biotechnology, Department of Atomic Energy, Department of Space, and Department of Science and Technology has played a significant role in enriching the National Innovation Ecosystem.
India has proven to be successful in developing the kind of sophisticated services that are technologically dynamic and can also be traded internationally.
The country leads the world in the information and communication technology services exports indicator (1) and also holds top ranks in other indicators, such as graduates in science and engineering (12) and domestic industry diversification (12).
About the Global Innovation Index (GII)
The GII project was launched by Professor Soumitra Dutta in 2007 during his tenure at INSEAD.
The goal was to find and determine metrics and methods that could capture a picture of innovation in society that is as complete as possible.
WIPO started its association with the GII in 2011 and began co-publishing the GII in 2012.
In 2013, Cornell University joined as co-publisher, with Professor Dutta representing the GII at Cornell University and Bruno Lanvin at INSEAD.
The GII continued to be co-published by Cornell University, INSEAD and WIPO up to 2020.
As of 2021, the GII is published by WIPO in partnership with the Portulans Institute, various corporate and academic network partners and the GII Advisory Board.
The Index comprises around 81 indicators, including measures on the political environment, education, infrastructure and knowledge creation of each economy.
India Innovation Index
The India Innovation Index has been developed by NITI (National Institution for Transforming India) Aayog on the lines of the GII.
The index goes beyond traditional approaches by considering the best parameters in measuring innovation such as patents per million of population, publication in scientific journals, percentage of GDP spending on research.
It also adds parameters that are specific to the Indian economy (eg. Demographic dividend), to give it a more holistic coverage.
