India's Ranking Improves to 57th in Global Innovation Index | CORPORATE ETHOS

India’s Ranking Improves to 57th in Global Innovation Index

By: | August 13, 2018
Global Innovation Index - GII

Aug 13: India’s ranking in Global Innovation Index 2018 (GII) has improved from 60 to 57 this year. In the past five years, the ranking has consistently improved from 80 with rising number of graduates in science and engineering, expenditures of major R&D-intensive global companies and capital formation.

Launching the GII 2018 recently in New Delhi, Ratan P Watal, Principal Adviser, NITI Aayog and Member Secretary Economic Advisory Council to Prime Minister said that the culture of spending on research and development is growing in INdia which is reflected in improved rankings in GII.

Dr Anil Kakodkar, Former Chairman, Atomic Energy Commission, and author of the India chapter in the report underlined that “we must devise strategies to address our energy deficit, to ensure sustainable domestic energy supply”. He also stressed on innovative ways to tackle the country’s energy problems.

Mr Naresh Prasad, Assistant Director General, World Intellectual Property Organization, said that GII enabled countries to compare their innovation performances and benchmark with others, he also added that WIPO would like to work with India to build its innovation ecosystem. He thanked CII for its sustained work in driving innovation.

Switzerland, Netherlands, Sweden, the United Kingdom, Singapore, the United States of America, Finland and Denmark lead the 2018 rankings in GII which saw a global launch last month at the Cornell Tech campus in New York. Co-published by Cornell University, Insead and WIPO, the GII acts as a source of insight into the multidimensional facets of innovation-driven growth. In 2018, the other partners of GII included PwC’s Strategy &, the National Industry Confederation (CNI) and Brazilian Service of Support to Micro and Small Enterprises (Sebrae).

Among the indicators of innovation outputs, India earns excellent positions in ICT services exports, where it ranks first in the world, and labour productivity growth, where it is 4th globally. India is 2nd among middle-income economies (after China) in the indicators that capture the quality of the innovation inputs and outputs. This year, its rankings are edging slightly closer to those of China, testifying the important efforts that the country is making in boosting innovation. In particular, the country ranks well in the quality of its scientific publication and local universities, because of higher scores for the Indian Institute of Science Bangalore and the Indian Institute of Technology. The GII indicators are grouped into innovation inputs and outputs. Innovation inputs capture the efforts made by the country to boost innovation. Innovation outputs measure the results of these efforts in terms of scientific publications, patents, trademarks, production, exports and other outputs.