RSTV: IN DEPTH- INNOVATION INDEX – INSIGHTS
Introduction:
In a big development, India is now ranked 52nd on the Global Innovation Index 2019, a jump of 5 places over last year, and 29 places in the last five years – up from 81 in 2015. Facilitating entrepreneurship through innovation is a critical component under the vision of Modi government’s new India by 2022. According to the Commerce and Industry Minister, Piyush Goyal. India’s consistent rise at the global innovation index is a testimony of its people’s entrepreneurial prowess
About the Global Innovation Index:
GII 2019 Theme: “Creating Healthy Lives – The Future of Medical Innovation”
The GII is concerned primarily with improving the journey towards a better way to measure and understand innovation and with identifying targeted policies and good practices that foster innovation. The GII creates an environment in which innovation factors are under continual evaluation, including the following features:
The GII 2019 is calculated as the average of two sub-indices.
The Innovation Input Sub-Index gauges elements of the national economy which embody innovative activities grouped in five pillars: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication.
The Innovation Output Sub-Index captures actual evidence of innovation results, divided in two pillars: (6) Knowledge and technology outputs and (7) Creative outputs.
For the ninth consecutive year, the Joint Research Centre (JRC) of the European Commission audited the GII calculations.
About WIPO
For the first time, the GII launch is being hosted by the Government of India, which uses the GII in creative ways to strengthen its policy framework for innovation at both the national and regional levels.
“The 2019 launch of the Global Innovation Index in India is a significant event and a recognition of the Government of India’s commitment to innovation in recent years,” said Minister of Commerce and Industry & Railways Piyush Goyal. He added: “The GII is a useful tool for governments to map out their strategies to foster innovation. The Government of India compliments the World Intellectual Property Organization for its efforts in this direction.”
Top 10 in Global Ranking All 2019 rankings
GII 2019 Key Findings:
India:
Homework which India has done: