India has climbed to 46th rank in Global Innovation Index (GII) 2021 report released by World Intellectual Property Organisation (WIPO).
It has jumped 35 places since 2015 and is top-ranked in Central and Southern Asia. From 81 in 2015, it has moved to 46 in 2021.
This report ranked Switzerland, Sweden, the United States, Britain and South Korea as the most innovative economies. China and France edged up in the rankings which continue to be dominated by Asia, Europe and North America.
“The consistent improvement in the GII ranking is owing to the immense knowledge capital, the vibrant start-up ecosystem, and the amazing work done by the public and the private research organizations,” the Indian government’s Niti Aayog said in a statement.
“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.”said the statement.
The think tank conveyed that 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. NITI Aayog stated that it is hosting the India Launch of the GII and the Global Innovation Conclave in partnership with CII and World Intellectual Property Organisation (WIPO). The event will be held on September 21-22, 2021.
“India climbs to 46th rank in Global Innovation Index of @WIPO, reflecting its success in transforming itself into an innovation hub, for a #AatmanirbharBharat,” tweeted Permanent Mission of India at UN in Geneva.
“India has jumped 35 places since 2015 and is top-ranked in Central and Southern Asia, demonstrating India’s success in creating a conducive ecosystem, enabling India’s emergence as a global hub for research and development and innovation,” added India at UN.
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.
Global Innovation Index provides detailed metrics about the innovation performance of 131 countries and economies around the world.
Its 80 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication.