Headline : India rises in global innovation ranking
- 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.
- 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