The Global
Innovation Index and India - 2017
Reformation of the Indian
Government is showing the impact on the Global Innovation Index. India has
jumped upto 60th place in comparison to 76th rank of
previous year.
Keeping the place secured Switzerland
is still at the first place in the Global Innovation Index. However, rise of
India has elevated the place of Asia among the continents and become a
important innovation engine. Whereas, China secures 22nd place in
the Global Innovation Index.
Global Innovation Index is an
approach to find out the impact of innovation on the Economies in countries and
how the countries inclined towards the innovation process. Global Innovation
Index provides the ranking to countries based upon their contribution towards
the innovation and its results occurred in their Economy and Society.
Global Innovation Index (“GII”)
is a unique indices which evaluate the Economies of the world as per their
innovating capabilities and is very useful from point of view of business
person and obviously innovators. GII uses profiles, including data, ranks and
strengths and weaknesses on 81 indicators of 143 country of the world. The
index is submitted to an independent statistical audit by the Joint Research
Centre of the European Commission.
Key
findings of Global Index Innovation
The six key findings of the GII
2017 are:
1.
Creating new
sources of innovation driven growth is now vital to transforming the current
economic upswing into the possibility of longer term growth.
2.
Smart and
digital agricultural innovation and better diffusion to developing countries
are required to help overcome serious food challenges.
3.
More
innovation convergence is needed globally, as low- and middle income countries
put more emphasis on their innovation systems.
4.
The prospect
of regional Asian innovation networks will also benefit from the rise of new
Asian Innovation Tigers and India’s high potential.
5.
Preserving
the momentum of innovation in Sub-Saharan Africa and tapping the innovation
potential in Latin America and the Caribbean must be priorities.
6.
Regional
clusters of inventive activity are essential to national innovation performance;
improved innovation metrics on this topic are required.
Innovation takes place when we
are placed under condition when we have to do more with less. Indians are
flocked with resources, so, here we are under condition where we are doing less
with more. There are possibilities where India can lead the innovators of world
and can set up an economy comprising of innovative thoughts.
As per the theme of GII this
year, human factor is very vital for the innovation in economy. Indian colleges
and Universities are manufacturing graduates every years but a very small part
of the Intellectual young breed are indulged in innovation process. India has
become a supplier of Engineer, Manager and technician to the world but alas due
to certain factors Indian economy is unable to take benefit of indigenous
inventors. It will be in favor of Indian Economy if Government gives promotion
to Indian innovation process and implement better policy for R&D
activities.
There are certain other Indexes
are mentioned in the Global Innovation Index in which India is running at higher
place than of the previous year. However, in case of ease of doing business
India is still very far and get 114th Rank in the world. The same occurred
with the Education where India gained 114th Rank.
Well India get 68th
Rank in uploading the video on You Tube and USA ranks the first for uploading
video on You Tube.
Over the last five years, the
Indian agriculture sector has also attracted leading IT companies and
investors; available technology and digital solutions are expanding at an
impressive pace. Overall, the top agricultural R&D spenders are India, the
Republic of Korea (Korea), China, the Netherlands, and Australia, with India
spending more than double than Korea.
This Article is solely intended
for purpose of information to the public at large. Article is not intended for
any commercial purposes. Global Innovation Index is published globally by WIPO,
Cornell University, and INSEAD.
