Global Innovation Index

What’s in News?

India, for the first time, made it to the top 40 countries at the Global Innovation Index (GII).

News Highlights:

• India’s six-notch jump to the 40th spot in the 132-nation GII in 2022 from 46th rank in 2021
• This year's GII theme is on The Future of Innovation Productivity Stagnation or Revival.
• 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.
• In Central and Southern Asia, India ranked highest among three in the “most innovation economies” followed by Iran and Uzbekistan.
• India continues to lead the world in the ICT services exports indicator (1st) and hold top rankings in other indicators, including Venture capital recipients’ value (6th), Finance for startups and scaleups (8th), Graduates in science and engineering (11th), Labour productivity growth (12th) and Domestic industry diversification (14th).
• In 2022 – as in previous years – the top 100 science and technology (S&T) clusters are concentrated in three regions – Northern America, Europe and Asia – and in two countries especially: China and the United States.
• Tokyo–Yokohama (Japan) is the top global S&T cluster, followed by Shenzhen–Hong Kong–Guangzhou (China and Hong Kong, China), Beijing (China), Seoul (Republic of Korea) and San Jose–San Francisco (United States).
• Bengaluru, Delhi, Mumbai and Chennai were in the top 100 S&T clusters, with Chennai being the new entrant.
• Beyond the Top 100 S&Ts , In India, Kolkata, Pune and Hyderabad stand out.
• Some of the larger R&D spenders among the middle income economies, such as Brazil, India, Malaysia, South Africa and Vietnam
• Electronics Vehicles (EV) penetration is still below 0.1 percent in Brazil, Chile, India and Mexico

Global Innovation Index:

• The GII 2022 report - in its 15th edition this year - is published by WIPO, in partnership with the Portulans Institute and with the support of its corporate partners including the Confederation of Indian Industry (CII), the Brazilian National Confederation of Industry (CNI), Ecopetrol (Colombia), and the Turkish Exporters Assembly (TIM).
• It reveals the most innovative economies in the world, ranking the innovation performance of around 132 economies while highlighting innovation strengths and weaknesses.
• The index was started in 2007 by INSEAD and World Business, a British magazine.
• It is an annual index
• The overall GII ranking is based on two sub-indices that are both equally important in presenting a complete picture of innovation; the Innovation Input Sub-Index and the Innovation Output Sub-Index.
• Hence, three indices are calculated:

1. Innovation Input Sub-Index: Five input pillars capture elements of the economy that enable and facilitate innovative activities.
2. Innovation Output Sub-Index: Innovation outputs are the result of innovative activities within the economy. Although the Output Sub-Index includes only two pillars, it carries the same weight as the Input Sub-Index in calculating the overall GII scores.
3. The overall GII score is the average of the Input and Output Sub-Indices, on which the GII economy rankings are produced.

WIPO:

• The World Intellectual Property Organization is one of the 15 specialized agencies of the United Nations (UN).
• Pursuant to the 1967 Convention Establishing the World Intellectual Property Organization, WIPO was created to promote and protect intellectual property (IP) across the world by cooperating with countries as well as international organizations.
• It began operations on 26 April 1970 when the convention entered into force.
• Headquartered in Geneva, Switzerland.
• WIPO currently administers 26 international treaties.