Sign In
Learn bits
Economy
Mahesh

30/09/22 05:54 AM IST

India breaks into Top 40 on Global Innovation Index

In News 
  • India, for the first time, made it to the top 40 countries at the Global Innovation Index (GII), led by improvement in information and communication technologies (ICT) services exports, venture capital recipients’ value, and finance for startups.
Major Findings 
  • India’s six-notch jump to the 40th spot in the 132-nation GII in 2022 from 46th rank in 2021 made it to the top most innovative lower middle-income economy in the world, overtaking Vietnam.
  • The GII reveals the most innovative economies in the world, ranking the innovation performance of 132 economies.
  • Türkiye and India enter the top 40 for the first time, placed 37th and 40th, respectively.
  • India continues to lead the world in the ICT services exports indicator with the first rank while holding top rankings in other indicators, including Venture capital recipients’ value (6th), Finance for startups and scaleups (8th), Graduates in science and engineering (11th), Labor productivity growth (12th) and Domestic industry diversification (14th).
  • For the twelfth consecutive year, Switzerland ranks first in the GII followed by the US.
  • In Central and Southern Asia, India ranked highest among three in the “most innovation economies” followed by Iran and Uzbekistan.
About GII 
  • The GII is launched by the World Intellectual Property Organization (WIPO), a specialized agency of the United Nations.
  • The GII aims to capture the multi-dimensional facets of innovation ranking and rich analysis referencing around 132 economies.
  • It is published in partnership with the Portulans Institute and other corporate partners:
  • The Brazilian National Confederation of Industry (CNI), Confederation of Indian Industry (CII), Ecopetrol (Colombia) and the Turkish Exporters Assembly (TIM).
  • The index ranks world economies according to their innovation capabilities and consists of roughly 80 indicators grouped into innovation inputs and outputs.
Source- Economic Times 

More Related Current Affairs View All

21 Jan

UGC’s draft regulation has serious constitutional issues

'The draft regulation by the University Grants Commission (UGC) on the selection and appointment of vice chancellors of universities has evoked protests by non-Bharatiya Janata Par

Read More

20 Jan

ILO report about international migrants

'International migrants reached 284.5 million, 255.7 million of them belong to the global working-age population (aged 15 and over).' International migrants are defined as perso

Read More

20 Jan

World Economic Forum

'The World Economic Forum (WEF) is holding its Annual Meeting from January 20 to 24 in Davos, Switzerland.' Attendees will include European Commission President Ursula von der L

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps