India has risen two places to 46th place in the World Intellectual Property Organization’s Global Innovation Index (GII) 2021. (WIPO).
In recent years, the country’s ranking has steadily improved. It has decreased from 81 in 2015 to 46 in 2021.
“India (at 46) advances two places (to 48 in GII 2020) after breaking into the top 50 last year. In the lower middle-income category, it is ranked second. In 2019 and 2020, India ranked third in its income category, after entering the top three in 2019, according to the GII study.
India has also been depicted as having achieved success in creating complex services that are technologically dynamic and can be sold globally, according to the report. It continues to dominate the globe in the export of information and communication technology services (1), as well as other metrics like domestic industry diversification (12) and science and engineering graduates (12).
The constant increase in the GII ranking, according to the Centre, is attributable to the enormous intellectual capital, dynamic start-up environment, and outstanding work done by public and private research organisations.
According to the statement, “scientific wings such the Department of Atomic Energy, Department of Science and Technology, Department of Biotechnology, and Department of Space have played a key role in enhancing the national innovation ecosystem.”
The NITI Aayog maintains a continuous focus on monitoring and assessing India’s standing in global rankings, according to the report.
WIPO collaborated with the Portulans Institute to produce the GII study, which was made possible by corporate network partners such as the Confederation of Indian Industry, the Brazilian National Confederation of Industry, the Ecopetrol Group (Colombia), and the Turkish Exporters Assembly.
Meanwhile, the GII study praised India’s efforts, stating that chosen middle-income countries, beginning with China, are altering the innovation landscape, with Turkey, Vietnam, India, and the Philippines now contributing their fair share.
“Aside from China, these four especially big economies have the capacity to alter the global innovation environment for the better,” according to the study.
Source: Business Standard