Global Innovation Index Current Affairs
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In recently released Global Innovation Index (GII) 2018, India was ranked 57th among 130 countries. It was 11th edition of GII and was jointly released by Cornell University, INSEAD and World Intellectual Property Organisation (WIPO). This year, India has moved up 3 places as compared to 60th rank in GII 2017 and emerged as top-ranked economy in Central and South Asia.
India has maintained its top place in central and south Asia region. It has consistently moving up on global ranking from 81st in 2015 to 57th this year. In fact, it has climbed up the list third year in row. It ranked at 66th position in 2016 and 60th last year.
Strengths: These indicators have helped India to improve its ranking. It includes 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 and creative goods exports etc.
Weakness: India has fared badly on indicators such as ease of starting business, political stability and safety, overall education and environmental performance
Global Innovation Index (GII)
The GII global ranking is published by World Intellectual Property Organisation (WIPO) – a specialized agency of United Nations in association with Cornell University and graduate business school INSEAD. It ranks nations based on 80 indicators, ranging from intellectual property filing rates to R&D, online creativity, mobile application creation, computer software spending, education spending, scientific & technical publications and ease of starting business.
India’s Confederation of Indian Industry (CII) is one of the knowledge partners which assists GII team in bringing out the annual ranking. GII is published annually since 2007 and is considered leading benchmarking tool for business executives, policy makers and others seeking insight into state of innovation around the world. It is being used by them to evaluate progress on continual basis.
India has ranked 66th in the 2016 Global Innovation Index (GII). In this edition, India has jumped up by 15 spots from 81st position in 2015 GII.
The annual index was released by France-based international business school INSEAD and World Intellectual Property Organisation (WIPO), a specialized agency of the United Nations.
The index ranks world economies since 2007 according to their innovation capabilities using more than 80 indicators.
- India’s better performance in the 2016 GII readings was due to its strengths in tertiary education, corporate R&D, software export and market sophistication.
- India has starting to excel in ICT and creative goods exports. It is setting a good example highlighting how its policy is improving the innovation environment.
- Among the middle income countries, India (25th) came second after China (17th) in innovation quality by overtaking Brazil (27th).
- China has figured at the 25th position (29th in 2015 GII) is the only middle-income country in the top 25.
Image Source: Economics Times