The World Intellectual Property Organization (WIPO) released its Global Innovation Index for 2021[1]. The 14th Edition of the GII is based on the theme- “Tracking Innovation through the COVID-19 Crisis”. The GII reports the worldwide innovation landscape and annual performance rankings of 132 economies, while relying on 81 indicators. According to Daren Tang, Director General of WIPO, the GII 2021 finds that the innovative sectors of the global economy have remained strong, despite severe disruptions caused in the wake of the COVID-19 crisis. The Report also infers that governments and enterprises in many parts of the world have scaled up their investments in innovation during the COVID-19 pandemic.
TOP 3 INNOVATION ECONOMIES BY REGION
GII 2021- India Ranking
GII 2021 places India rank 46 among 132 nations. Hence, India jumped by 2 positions from its previous ranking in GII 2020, wherein India was placed at 48th rank in 131 economies across the world. The Report also remarks that selected middle-income economies like India, are changing the innovation landscape.
Key Findings- GII 2021- INDIA
- India is placed at the 2nd position in Innovation performance at the Lower middle income group level[2].
- India holds the record for over performing on innovation relative to their level of development for the 11th year in a row.
- India is systematically catching up and has romped up the ranks by an average of 22 positions in the past decade:
- India has also been portrayed as successful in developing sophisticated services that are technologically dynamic and can be traded internationally.
- India continues to lead the world in the ICT services exports indicator (1st) and holds top ranks in other indicators, such as Domestic industry diversification (12th) and Graduates in science and engineering (12th).
- India’s innovation performance is above the average for the upper middle-income group in five of the seven innovation pillars (it scores below average in the pillars of Infrastructure and Creative outputs).
- India is also at the top of the region in the Knowledge and technology outputs pillar.
India’s Report card at GII 2021
India’s innovation and development have been applauded as “above expectations” in the GII Report of 2021. This is indeed a matter of pride for India, as its economic and innovation landscape is being appreciated on the International diaspora. The Government’s incentives for Start-ups and MSMEs to encourage innovation and research and development in India also plays an immense role in displaying India’s positive relationship between innovation and development.
[1] https://www.wipo.int/global_innovation_index/en/2021/
[2] The report categorises different income levels of nations- high income group, upper-middle income group, lower middle income group, low income group.
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