Global Innovation Index

Why is in news? PM feels proud of our Innovators as India climbs to the 40th rank in the Global Innovation Index of WIPO

India climbed six notches to 40th position in the Global Innovation Index 2022, according to a report by the Geneva-based World Intellectual Property Organization (WIPO), a specialised agency of UN.

The Global Innovation Index 2022 (GII) takes the pulse of recent global innovation trends in the context of a continuing COVID-19 pandemic, war and global supply chain and energy disruptions.

Switzerland is the most innovative economy in the world in 2022 - for the 12th year in a row - followed by the United States, Sweden, the United Kingdom and the Netherlands.

China is nearing the top 10 while Turkey and India enter the top 40 for the first time, according to the GII 2022.

The GII aims to capture the multi-dimensional facets of innovation ranking and rich analysis referencing around 132 economies.

The GII is commonly used by corporate and government officials to compare countries by their level of innovation.

The GII is computed by taking a simple average of the scores in two sub-indices, the Innovation Input Index and Innovation Output Index, which are composed of five and two pillars respectively.

Innovation inputs: Institutions; Human capital and research; Infrastructure; Market sophistication; Business sophistication.

Innovation outputs: Knowledge and technology outputs; Creative outputs

World Intellectual Property Organization: It is one of the 15 specialized agencies of the United Nations (UN) – headquartered in Geneva, Switzerland.

India Innovation Index: Published by NITI Aayog.

It is a comprehensive tool for the evaluation and development of the country's innovation ecosystem. It ranks the states and the union territories on their innovation performance to build healthy competition amongst them