WIPO Current Affairs - 2019
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In the Global Innovation Index 2017, co-authored by Cornell University, INSEAD and World Intellectual Property Organisation (WIPO), India has moved up 6 places to reach 60th place among 130 countries emerging as the top-ranked economy in Central and South Asia.
This is the 10th edition of the Global Innovation Index 2017 (GII).
Top 10 most Innovative countries: Switzerland, Sweden, the Netherlands, the US, the UK, Denmark, Singapore, Finland, Germany and Ireland. Switzerland leads the rankings for the 7th consecutive year.
The index is dominated by high-income economies which took 24 of the top 25 spots except for China which is ranked at 22nd spot.
Among India’s neighbours, Sri Lanka has managed to bag 90th spot and Nepal stood at 109th place. Pakistan has been ranked as 113th followed by Bangladesh at 114.
BRICS countries: Brazil (69), Russia (45), China (22), South Africa (57).
India has made improvements in the rankings after five continuous years of decline in the ranking. The report has observed that India’s rise in innovation has benefitted its neighbouring countries.
The index has highlighted the continuous improvement of India in terms of investment, tertiary education, quality of its publications and universities, ICT service exports etc.
Task Force on Innovation
To assess India’s position on the innovation front, the Ministry of Commerce and Industries had set up a task force on innovation. The task force comprising of government officials and experts from private organisations & academia, has recently come up with its report that detailed specific measures to improve India’s ranking in GII.
GII surveys are conducted every year which analyses 130 economies and aims to capture the multi-dimensional facets of innovation. The index makes use of a dozen parameters ranging from patent filings to education spending and offers the decision makers a high-level look at the innovative activity which are drivers of economic and social growth. GII, over the last few years has established itself as a leading reference on innovation.
World Intellectual Property Organisation (WIPO) is the global body for promotion and protection of intellectual property rights (IPR), headquartered in Geneva, Switzerland.
The World Economic Forum (WEF), NITI Aayog, World Intellectual Property Organization (WIPO) and Cornell University will work to develop an India Innovation Index to provide impetus to states to drive innovative spirit.
Based on the WIPO’s GII (Global Innovation Index), the India Innovation Index will be tailored to better reflect of India’s ground reality and include metrics well suited to the Indian context for innovation.
- The India Innovation Index will measure and rank the innovation performance of all states in India with the aim of moving India towards an innovation-driven economy.
- It will be based on key pillars of innovation and sub-indices that together will assist in tailoring policies for innovation that inturn will promote inclusive growth.
- The pillars of index include the capacity of human capital and research, strength of institutions, supporting infrastructure and the level of business sophistication, among others.
- Each partnering organization will nominate a working group member to work on the index. The first ranking of Indian states will released at the India Economic Summit to be held in October 2017.
- This index will encourage states to compete with each other and, in turn, lead to better policies for inclusive growth.
- It will create a transparent benchmark of innovation for Indian states and spur competition among states. It will also ensure progress towards innovation at the local level in India.