Global Innovation Index 2021 | 21 Sep 2021

Why in News

Recently, India has climbed two spots and has been ranked 46^th in the Global Innovation Index (GII) 2021 rankings.

Key Points

• Global Innovation Index (GII) 2021:
  
  • About:
    
    • Launch: The GII is launched by the World Intellectual Property Organization (WIPO), a specialized agency of the United Nations.
      
      • The GII aims to capture the multi-dimensional facets of innovation ranking and rich analysis referencing around 132 economies.
    • Partnership: It is published in partnership with the Portulans Institute and other corporate partners:
      
      • The Brazilian National Confederation of Industry (CNI), Confederation of Indian Industry (CII), Ecopetrol (Colombia) and the Turkish Exporters Assembly (TIM).
    • Indicators: The index ranks world economies according to their innovation capabilities and consists of roughly 80 indicators grouped into innovation inputs and outputs.
      
      • Innovation inputs: Institutions; Human capital and research; Infrastructure; Market sophistication; Business sophistication.
      • Innovation outputs: Knowledge and technology outputs; Creative outputs
  • Global Performance:
    
    • Top Five: Switzerland, Sweden, U.S., and U.K. continue to lead the innovation ranking, and have all ranked in the top 5 in the past three years.
      
      • The Republic of Korea joins the top 5 of the GII for the first time in 2021.
    • Asian Countries: Four Asian economies feature in the top 15: Singapore (8), China (12), Japan (13) and Hong Kong, China (14).
  • India’s Performance:
    
    • India has been on an upward trajectory over the past few years in the GII.
      
      • India has shot up from a rank of 81 in 2015 to 46 in 2021.
    • India performs better in innovation outputs than innovation inputs in 2021.
      
      • This year India ranks 57^th in innovation inputs, the same as last year but higher than 2019.
      • As for innovation outputs, India ranks 45^th. This position is the same as last year but higher than 2019.
    • India ranks 2^nd among the 34 lower middle-income group economies.
    • India ranks 1^st among the 10 economies in Central and Southern Asia.
    • The government attributed the country’s improved performance to the departments of atomic energy, science and technology, biotechnology and space.
• Other Findings from the GII 2021:
  
  • Investments in innovation reached an all-time high before the pandemic with R&D growing at an exceptional rate of 8.5% in 2019.
  • Government budget allocations for the top R&D spending economies showed continued growth in 2020.
  • The publication of scientific articles worldwide grew by 7.6% in 2020.
  • India, Kenya, the Republic of Moldova, and VietNam hold the record for overperforming on innovation relative to their level of development for the 11th year in a row.

Source: PIB