17/8/2016 638 Economic Affairs | Growth and development | View Recent Current Affairs
- In Global Innovation Index (GII), 2016, India ranked at 66th positions. It is up from 15 spots last year.
- Switzerland, Sweden, the UK, the US, Finland and Singapore lead the 2016 GII rankings.
- GII 2016 Theme: “Winning with Global Innovation”.
India and Index:
- India scored high on tertiary education and R&D, the quality of its universities and scientific publications, its market sophistication and information and communication technology service exports, where it ranks first in the world.
- India has all the ingredients needed to become a global driver of innovation including strong market potential, an excellent talent pool, and an underlying culture of frugal innovation. India ranks second on innovation quality among middle-income economies, overtaking Brazil.
- India has the ability to create a unique spot in innovation history to meet its own market requirements by using its cultural advantages of frugality and sustainability. Stressing that India’s priorities for innovation need to be in the areas of energy, water, transport, health care, food security and digital consumption, the index said that India should strengthen its own talent pool and leverage global talent “in these market-pull areas”.
About the Global Innovation Index
- The Global Innovation Index 2016 (GII) is co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO, a specialized agency of the United Nations).
- This index published annually since 2007.
- The core of the GII Report consists of a ranking of world economies’ innovation capabilities and results. Recognizing the key role of innovation as a driver of economic growth and prosperity, and the need for a broad horizontal vision of innovation applicable to developed and emerging economies, the GII includes indicators that go beyond the traditional measures of innovation such as the level of research and development.
- To support the global innovation debate, to guide polices and to highlight good practices, metrics are required to assess innovation and related policy performance. The GII creates an environment in which innovation factors are under continual evaluation, including the following features:
- 128 country profiles, including data, ranks and strengths and weaknesses on 82 indicators
- 82 data tables for indicators from over 30 international public and private sources, of which 58 are hard data, 19 composite indicators, and 5 survey questions
- A transparent and replicable computation methodology including 90% confidence interval for each index ranking (GII, output and input sub-indices) and an analysis of factors affecting year-on-year changes in rankings
- The GII 2016 is calculated as the average of two sub-indices. The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication. The Innovation Output Sub-Index captures actual evidence of innovation results, divided in two pillars: (6) Knowledge and technology outputs and (7) Creative outputs.