Global Innovation Index

In news– World Intellectual Property Organisation (WIPO) has released the 15th edition of Global Innovation Index (GII) recently.

About the Index-

GII is published by WIPO, in partnership with the Portulans Institute and with the support of its corporate partners including the Confederation of Indian Industry (CII), the Brazilian National Confederation of Industry (CNI), Ecopetrol (Colombia), and the Turkish Exporters Assembly (TIM).
In its annual ranking of the world’s economies on innovation capacity and output, the GII shows some key changes in the top 15 of the ranking, with the US climbing to the second position, the Netherlands reaching the fifth position, Singapore rising to 7th, Germany at 8th and China up one place to 11th and on the doorstep of the top 10.
As per the index, Switzerland, the US, Sweden and the Netherlands are the world’s most innovative economies.

India and Turkey have entered the top 40 for the first time.
India (40) leads the central and south Asian region and reaches the top 40, after making it into the top 50 in 2020.
The Islamic Republic of Iran (53) and Uzbekistan (82) follow. India has moved up the ranking consistently since 2015 when it was ranked 81st.

India is the innovation leader in the lower middle-income group.
It continues to lead the world in ICT (information, communication and tech) services exports and holds top rankings in other indicators, including venture capital receipt value, finance for startups and scaleups, graduates in science and engineering, labour productivity growth and domestic industry diversification.