About the Global Innovation Index–GII

Subject : Index

India climbs to the 40th rank in the Global Innovation Index of WIPO– a huge leap of 41 places in 7 years

Findings:

Innovation is at a crossroads as we emerge from the pandemic, facing global uncertainties and underperformance in innovation-driven productivity.
Switzerland remains the world’s leader in innovation for the 12th consecutive year.
The second position was secured by the United States (US) followed by Sweden, the United Kingdom (UK) and the Netherlands.
Emerging economies are showing consistently strong performance including, India and Turkey.
India is the innovation leader in the lower middle-income group.
- India secured the 40th position in the Global Innovation Index.
- This is the first time the country entered the top 40.
- Last year, India was at the 46th position.
- Leading in the world in ICT services exports and holds top rankings in other indicators, including venture capital receipt value, finance for startups and scaleups, graduates in science and engineering, labor productivity growth and domestic industry diversification

About the Global Innovation Index–GII:

It is published by by the World Intellectual Property Organization (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).
The GII aims to capture the multi-dimensional facets of innovation ranking and rich analysis referencing around 132 economies.
Indicators: The index ranks world economies according to their innovation capabilities and consists of roughly 80 indicators grouped into innovation inputs and outputs.
Components:
- Innovation Input Sub-Index: Five input pillars capture elements of the economy that enable and facilitate innovative activities.
  - Innovation inputs: Institutions; Human capital and research; Infrastructure; Market sophistication; Business sophistication.
- Innovation Output Sub-Index: Innovation outputs are the result of innovative activities within the economy.
  - Innovation outputs: Knowledge and technology outputs; Creative outputs
  - 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.
- The overall GII score is the average of the Input and Output Sub-Indices, on which the GII economy rankings are then produced.

World Intellectual Property Organization (WIPO)

It is the global forum for intellectual property (IP) services, policy, information and cooperation.
It is a self-funding agency of the United Nations, with 193 member states.
Mission: To lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.
Its mandate, governing bodies and procedures are set out in the WIPO Convention, which established WIPO in 1967.