In news– India has been ranked 46th by the World Intellectual Property Organization (WIPO) in the Global Innovation Index 2021 rankings.
Global Innovation Index 2021 rankings-
- The 2021 edition (14th) of the GII presents the latest global innovation ranking of 132 economies, relying on 81 different indicators.
- This edition also focuses on the impact of the COVID-19 pandemic on innovation.
- Switzerland, Sweden, the United States, Britain and South Korea have been ranked as the most innovative economies.
- China and France edged up in the rankings which continue to be dominated by Asia, Europe and North America.
- Bottom five countries are Benin, Niger, Guinea, Yemen and Angola.
- In its report, WIPO said that that innovation marched forward last year despite the impact of the Covid-19 outbreak.
- Technology, pharmaceuticals and biotech industries boosted their investments, even as hard-hit sectors like transport and travel eased back on spending.
- India has been ranked 46th as compared to 48th last year.
- India ranks second among 34 lower middle-income group economies and first among the 10 economies in Central and Southern Asia.
- Relative to GDP, India’s performance is above expectations for its level of development
- NITI Aayog, in partnership with the CII and the WIPO, virtually hosted the India Launch of the GII and the Global Innovation Conclave during September, 2021.
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 80 indicators, including measures on the political environment, education, infrastructure and knowledge creation of each economy.