Global Innovation Index (GII)

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04 Oct Global Innovation Index (GII)

Posted at 04 Oct 2023 in Current Affairs by
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This article covers “Daily Current Affairs” and the topic details “Global Innovation Index (GII)”. This topic has relevance in the Economy section of the UPSC CSE exam.

For Prelims:

About the Global Innovation Index (GII)?

What is WIPO?

For Mains:

GS 2: Economy

Key Highlights of the Index?

Key Highlights Related to India?

 

Why in the news?

India’s rank in the Global Innovation Index has risen from 81st to 40th.

 

The Global Innovation Index (GII):

  • The Global Innovation Index (GII) is a highly influential annual publication that evaluates and quantifies the innovation performance of economies worldwide. It stands as a crucial benchmarking tool utilized by policymakers, business leaders, and diverse stakeholders to assess and monitor a country’s advancements in the realm of innovation.
  • The GII is published by the World Intellectual Property Organization (WIPO) in collaboration with esteemed partners like Cornell University, INSEAD, and various other organizations and institutions.

 

  • Methodology of the GII: The GII computation hinges on the amalgamation of scores derived from two distinct sub-indices: the Innovation Input Index and the Innovation Output Index.
    • Innovation Input Index: Comprising five pillars, the Innovation Input Index delves into various facets of innovation attributes. Each pillar encompasses a range of up to five indicators, providing a comprehensive perspective on the factors contributing to innovation.
    • Innovation Output Index: This index is structured around two key pillars, evaluating the tangible outcomes and results of innovation efforts in a given country.
  • Weighted Average Scoring: The GII calculates scores for each indicator through a weighted average methodology, ensuring a nuanced and balanced assessment of innovation performance across different dimensions.

Key Highlights of the Index:

  • Top Innovative Economies: Switzerland tops the list as the most innovative economy in 2023, followed by Sweden, the United States, the United Kingdom, and Singapore. Singapore has notably entered the top five and leads the South East Asia, East Asia, and Oceania (SEAO) region.
  • Top Science and Technology Clusters: The top Science and Technology innovation clusters in 2023 include Tokyo–Yokohama, Shenzhen–Hong Kong–Guangzhou, Seoul, Beijing, and Shanghai- Suzhou. China now boasts the largest number of clusters globally, surpassing the United States.

 

Key Highlights Related to India:

  • Overall Ranking and Growth: India has achieved the 40th position in the GII 2023, significantly climbing from its 81st spot in 2015. This underscores India’s consistent and substantial growth in innovation over the past eight years.
  • Leading in Lower-Middle-Income Countries: India secures the top position among 37 lower-middle-income countries and leads among the 10 economies in Central and South America in terms of innovation.
  • Strong Innovation Landscape: India’s innovation landscape is bolstered by notable achievements in various key indicators, including ICT services exports, venture capital investments, the number of graduates in science and engineering, and global corporate R&D investors.
  • Science and Technology Clusters: India has four S&T clusters among the world’s top 100, which include Chennai, Bengaluru, Mumbai, and Delhi. This number is comparatively lower than China’s 24 and the US’s 21 clusters.
  • Progress and Contributors: India’s progress in innovation is attributed to its abundant knowledge capital and a thriving startup ecosystem, supported by both public and private research organizations. The COVID-19 pandemic underscored the importance of innovation in addressing challenges, aligning with India’s vision of Atma Nirbhar Bharat (Self-reliant India).
  • Areas for Improvement: India recognizes the need for improvement in several areas, particularly infrastructure, business sophistication, and institutions. NITI Aayog is actively working to promote policy-led innovation in crucial sectors such as electric vehicles, biotechnology, nanotechnology, space, and alternative energy sources to bridge these gaps.

 

What is WIPO?

  • WIPO (World Intellectual Property Organization) serves as the worldwide platform for Intellectual Property (IP) services, policy development, information dissemination, and international cooperation.
  • Self-Funding UN Agency: WIPO operates as a self-funding agency within the United Nations system and counts 193 member states among its constituents.
  • Objective: The primary objective of WIPO is to lead and facilitate the development of an equitable and effective international IP system that fosters innovation and encourages creativity, ultimately benefiting all stakeholders.
  • Mandate and Governance: WIPO’s mandate, as well as its governing bodies and procedures, are outlined in the WIPO Convention, which officially established WIPO in 1967.
  • Headquarter: Geneva

 

SOURCE:https://www.thehindu.com/news/national/other-states/indias-rank-in-global-innovation-index-has-improved-president-murmu/article65969745.ece

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Q.1 Which organization publishes the Global Innovation Index (GII)?

(a) United Nations Development Programme (UNDP)

(b) World Intellectual Property Organization (WIPO)

(c) World Economic Forum (WEF)

(d) International Monetary Fund (IMF)

Q.2 Regarding the Global Innovation Index (GII) recently seen in the news, consider the following statements:

India has improved its ranking consistently over the past decade.

India secured the top position among 37 middle-income countries.

How many of the above statements are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

 

Q.3 Discuss the role of innovation in shaping the modern economy. How does innovation impact economic growth, competitiveness, and sustainability? Provide relevant examples

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