India and Global Innovation Index

Headline : India rises in global innovation ranking

Details :

The News
  • India has jumped five places to rank 52 in the Global Innovation Index 2019 (GII).
  • The GII is a global benchmark that helps policy makers better understand how to stimulate and measure innovative activity, a main driver of economic and social development.
 
News Summary:
  • The latest Global Innovation index rankings were released at an event organised by the Indian Commerce Ministry and World Intellectual Property Organization (WIPO).
  • The rankings put India at 52nd in the world.
  • Switzerland is the most innovative economy, followed by Sweden, US, Netherlands and United Kingdom.
  • China, which has invested heavily in research and development, moved up three positions to rank 14.
  • Israel secured the 10th rank, marking the first time an economy from the Northern Africa and Western Asia region broke into the top 10.
India’s GII ranking:
  • India improved its ranking consistently in the recent years, from 88 in 2015 to 57 in 2018 to 52 in 2019.
  • India is now the most innovative economy in the Central and South Asian region.
  • India will continue its efforts to breach the top 50 in the GII soon, with the ultimate aim of reaching the top 10.
Factors that helped India improve its ranking:
  • Strong information and communication technology services exports,
  • Scientific publications
  • Investment by its top three companies in research and development
  • Quality of some of its educational institutions, including some IITs and IIMs
  • The proportion of science and engineering graduates on offer globally
  • State of cluster development, especially the performance of Bengaluru, New Delhi and Mumbai
Major areas where India needs to improve include:
  • Proportion of women with advanced degrees in the workforce.
  • Overall quality of education
  • Access and use of information and communication technologies
  • Student to teacher ratio in secondary level education
What are the strengths of India which has helped in improving its ranking?
  • India’s human capital (graduates in science & engineering)
  • Growth rate of GDP per worker
  • Exports of information and communication technology (ICT) and services
  • Productivity growth
  • Creative goods exports among others
 
Global Innovation Index
  • The Global Innovation Index (GII) aims to capture the multi-dimensional facets of innovation and provide the tools that can assist in tailoring policies to promote long-term output growth, improved productivity, and job growth.
  • The global ranking is published by the World Intellectual Property Organisation (WIPO) – a specialized agency of the United Nations – in association with Cornell University and graduate business school INSEAD.
  • GII is published annually since 2007.
  • It is considered a leading benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. It is being used by them to evaluate progress on a continual basis.
  • GII ranks 126 economies based on 80 indicators, ranging from intellectual property filing rates to R&D, mobile application creation, online creativity, computer software spending, education spending, scientific & technical publications and ease of starting business.
Section : Economics
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