Topic- Growth and Development [GS Paper-3]
Context- India is ranked 40th position out of 132 in the Global Innovation Index (GII) 2022 rankings published by World Intellectual Property Organisation (WIPO).
- World Intellectual Property Organisation (WIPO has released the Global Innovation Index 2022 report, in collaboration with the Portulans Institute and with the support of corporate partners such as the Confederation of Indian Industry (CII), the Brazilian National Confederation of Industry (CNI), Ecopetrol (Colombia), and the Turkish Exporters Assembly (TIM).
- The Global Innovation Index 2022 observes global innovation patterns in the context of an ongoing pandemic, slowed productivity growth, and other emerging global issues.
- The special subject for the 2022 report was to study the future of innovation-driven growth in order to explore the function and significance of digital technologies in raising national productivity.
- As per the report, 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 ranked nearer to top 10 while Türkiye and India enter the top 40 for the first time.
- India was ranked 40th position out of 132 in the GII 2022 whereas India was ranked 46th position in 2021, and 81st rank in 2015.
- According to the report, India’s innovation performance is above average for the upper-middle-income group in every innovation field, except infrastructure, which is performing average.
- At present India is undergoing enormous transitions, ranging from space technology and smart cities to health care and telecommunications, all of which are driven by creative and innovative solutions.
- India’s Chandrayaan-2 Moon orbit, digital identification technology (Aadhar), universal health care, and the indigenous vaccine Covaxin etc are a few examples of India’s present innovative brilliance across various sectors.
- While studying the innovative standards of the countries, Global Innovation Index (GII) captures all these changes, highlighting the areas in which the innovation performance of India is improving and promoting the continued growth of its knowledge inputs and outputs.
- Emerging technologies are helping Indian businesses innovate significantly which therefore contributes to the socioeconomic change of the nation.
- Also startup culture has spread throughout the nation, making India the third-largest startup economy in the world.
Global Innovation Index
- The annually published Global Innovation Index is used as a reference for measuring innovation performance of countries.
- Many countries use the GII to assess and improve their innovation ecosystems and use the GII as a reference in formulating economic plans and policies.
- The index has been recognized by the UN Economic and Social Council in its 2019 resolution on Science, Technology and Innovation for Development as an authoritative standard for measuring innovation in relation to the Sustainable Development Goals (SDGs).
- Parameters of the index include
- human capital and research
- market sophistication
- business sophistication
- knowledge and technology outputs
- The theme for 2022 was “What is the future of innovation-driven growth?”.
- The GII 2022 also studies the positive effects of two novel innovation waves i.e.
- A digital age innovation wave based on supercomputing, artificial intelligence, and automation. It makes sample productivity impacts across all sectors and fields of scientific research.
- A Deep Science innovation wave built on breakthroughs in biotechnologies, nanotechnologies, new materials, and other sciences. Its effect includes revolutionizing innovations in health, food, environment, and mobility.
World Intellectual Property Organization Agency (WIPO)
- It is the global platform for intellectual property (IP) services, policy, information and cooperation.
- WIPO is a self-funding agency of the United Nations, with 193 member nations.
- It aims at leading the development of a balanced and effective international IP system which enables innovation and creativity for the benefit of all.
- The governing bodies and procedures of WIPO are set out in the WIPO Convention, which established WIPO in 1967.