India scores 46th rank in the Global Inn

Q Why is it in News ?

A India has climbed 2 spots and has been ranked 46th by the World Intellectual Property Organization in the Global Innovation Index 2021 rankings.

Q What is Global Innovation Index ?

A 

• The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation.
• It is published by Cornell University, INSEAD, and the World Intellectual Property Organization, in partnership with other organizations and institutions.
• It is based on both subjective and objective data derived from several sources, including the International Telecommunication Union, the World Bank and the World Economic Forum.
• The index was started in 2007 by INSEAD and World Business, a British magazine. It was created by Prof. Soumitra Dutta.

Q What are Components of Global Innovation Index ?

A 

• The GII is computed by taking a simple average of the scores in two sub-indices, the Innovation Input Index and Innovation Output Index, which are composed of five and two pillars respectively.

Q How has been India’s performance ?

A 

• India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 46 in 2021.
• India attributed its improved performance due to the pivotal role played by the Department of Atomic Energy, the Department of Science and Technology, the Department of Biotechnology and the Department of Space.

Q What is the Global scenario ?

A 

• Switzerland topped the league table, followed by Sweden, the US and the UK.
• Among Asian economies, South Korea jumped to the fifth position, up from 10 last year.
• China was in the 12th position.