Global Innovation Index

Q. Why is this in news?

A. Recently this  13th edition of Global Innovation Index released where India climbed 4 spots. 

Q. What is this index?

A. The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation. 

The index is a leading reference for measuring an economy’s innovation performance.

Q. Which is the organisation behind its release?

A. The Global Innovation Index is released by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO), a specialized agency of the United Nations.

Q. What is its theme this year?

A. “Who Will Finance Innovation?” is the Theme of this year GII 2020.

Q. How are countries ranked?

A. GII rankings are based on 80 indicators, from traditional measurements like research and development investments and international patent and trademark applications.

Q. What is India’s performance in the index?

• This year, India climbed four spots and is now at 48th position in the list.
• India is at the top position among the nations in central and southern Asia.
• India has now become the third most innovative lower middle-income economy in the world.
• India ranks in the top 15 in indicators such as ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&D intensive global companies.

Q. What is the Global scenario?

• Asian economies like China, India, the Philippines and Vietnam have advanced considerably in the innovation ranking over the years.
• Switzerland, Sweden, the US, the UK and the Netherlands lead the innovation ranking as top five nations.