The 2021 edition of the Global Innovation Index (GII) presents the latest global innovation ranking of 132 economies, relying on 81 different indicators. While tracking the most recent global innovation trends in the new Global Innovation Tracker, this edition also focuses on the impact of the COVID-19 pandemic on innovation. India moves to 46th in innovation index where India ranks 1st among 10 central and Southern Asian economies. India has improved its ranking in the Global Innovation Index (GII) 2021 to 46th place among 132 economies, up from 48 in the previous year’s ranking, as per the World Intellectual Property Organization (WIPO).
India ranks second among 34 lower middle-income group economies and first among the 10 economies in Central and Southern Asia. Relative to gross domestic product (GDP), India’s performance is above expectations for its level of development. Graduates in science and engineering disciplines and global corporate research and development investors are India’s strengths, as per WIPO.
WIPO’s criteria to measure innovation cover institutions, human capital and research, infrastructure, credit, investment, linkages, creation, absorption and diffusion of knowledge, and creative outputs. The consistent improvement in the GII ranking is due to the immense knowledge capital, vibrant start-up ecosystem, and the amazing work done by public and private research organizations. Scientific wings like the Department of Atomic Energy, Department of Science and Technology, Department of Biotechnology, and the Department of Space have played a pivotal role in enriching the national innovation ecosystem of India. A constant thrust on monitoring and evaluating India’s position in the global rankings has been provided by the National Institution for Transforming India, better known as NITI Aayog.
The NITI Aayog has been working tirelessly to ensure the optimization of the national efforts for bringing policy led innovation in different areas such as electric vehicles, biotechnology, nano technology, space, alternative energy sources, etc. The India Innovation Index, the latest edition of which was released last year by the NITI Aayog, has been widely accepted as a major step in the direction of decentralization of innovation across all the states of India. A constant thrust in monitoring and evaluating India’s position in the global rankings has been provided by the NITI Aayog, including in the Global innovation index (GII). As we progress further towards saving lives and livelihoods and shaping the national economic growth trajectory, the GII-2021 will be a significant reference point for all the countries to assess their innovation capabilities and readiness, which will go a long way in boosting economic recovery.
The GII is the fulcrum for the governments, across the world to assess the social and the economic changes in their respective countries. Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo. India is exceling at the innovation. It has been constantly making progress on the innovation index from 2015 when it was ranked 81st on the list. In 2020, India entered the top 50 on the list. India has been successfully developing technologically dynamic services which can be offered across the globe. The country leads the world in the information and communication technology services exports indicator. It also ranks well in other indicators such as domestic industry diversification (12) and graduates in science and engineering (12).
The Confederation of Indian Industry (CII) has also been leading from the front as a torchbearer of India’s journey towards an innovation driven economy. This year, the NITI Aayog, in partnership with the CII and the World Intellectual Property Organization (WIPO), has also hosted, virtually the India Launch of the GII and the Global Innovation Conclave during last month of September. Innovation has been at the forefront of India’s battle against the unprecedented crisis created by the pandemic and will be pivotal in driving the country’s resilience and self-reliance.
Source: WIPO,
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www.pib.gov.in
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