India has ranked 60th on the Global Innovation Index (GII) 2017. The index has been co-authored by Cornell University, INSEAD and World Intellectual Property Organisation (WIPO).
Highlights of Global Innovation Index 2017:
India’s rank at 60th spot marks an improvement of six places as compared 66th rank in 2016.
- In recent years, India has consistently outperformed on innovation relative to its GDP per capita.
- Among India’s neighbours, China ranked at 22nd spot, Sri Lanka at 90th at spot whereas Nepal was at 109th. Pakistan came in at 113 followed by Bangladesh at 114.
- Switzerland has topped the index for seventh consecutive year.
- Switzerland, Sweden, the Netherlands, the US and UK comprise the top five most-innovative countries.
- 24 out of top 25 countries are high-income economies.
Innovation Potential in India:
The report highlighted that India made important strides in innovation input and output performance.
- Continual improvement has been observed in terms of investment, tertiary education, quality of its publications and universities, its ICT services exports and innovation clusters.
- Recognising India’s potential to reach great heights in innovation and creativity, a task force on innovation was set up on the direction of Commerce and Industries Minister Nirmala Sitharaman.
- The Task Force on innovation (comprising of government officials and experts from private organisations & academia) had the mandate of assessing India’s position as an innovative country, suggest measures to enhance the innovation ecosystem in India and thus improve India’s ranking in the Global Innovation Index.
Global Innovation Index 2017 – Top 10:
|4||United States of America|
About Global Innovation index (GII):
GII ranks countries by their capacity for, and success in,innovation.It is published by Cornell University, INSEAD, and the World Intellectual Property Organization.
- It was first published in year 2007.
- Global Innovation Index 2017 is the 10th edition of this index.
- The index is compiled on basis of two sub-indices – Innovation Input Index and Innovation Output Index.