India Improves its Innovation Rank
This year, the rank in both inputs and outputs has increased significantly, reaching its best performance for the inputs over the four year period.
India has improved its innovation ranking in GII to reach 66th position from its last year’s rank of 81st. This improvement in the rank for India comes after 5 years of continuous drop in its ranking. Switzerland, Sweden, the United Kingdom, the United States of America, Finland and Singapore lead the 2016 rankings in the Global Innovation Index, released jointly by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) AT Kearney and Confederation of Indian Industry (CII).
Speaking at the launch function jointly organized by NITI Aayog, DIPP and CII in the capital, Nirmala Sitharaman, Minister of State for Commerce and Industry, informed, “a team to be formed to look into results of the Global Innovation Index to understand the challenges related to India and advise the Government on next step”.
Along with its innovation performance India’s innovation ranking is driven by methodological considerations, such as the addition of new indicators. Relative to GDP, India performs well above the line of the level of development. Among its income group (lower-middle income) it ranks sixth and in its region (Central and Southern Asia) it ranks 1st.
India has shown a downward trajectory during the period of 2013-2015 in its ranking for inputs and outputs. This year, however, the rank in both inputs and outputs has increased significantly, reaching its best performance for the inputs over the four year period. The relative downturn of India’s Innovation Efficiency Ratio (63rd) happened due to significant increase in Innovation inputs (which remained weak in previous years) with respect to its output (efficiency is the ratio between innovation output and innovation input). India ranks third and first in its region (Central and Southern Asia) in the Innovation Input and Output Sub-Indices, respectively.
India, 66th, is the top-ranked economy in Central and Southern Asia, showing particular strengths in tertiary education and R&D, including global R&D intensive firms, the quality of its universities and scientific publications, its market sophistication and ICT service exports where it ranks first in the world. India also over-performs in innovation relative to its GDP. It ranks second on innovation quality amongst middle-income economies, overtaking Brazil. Relative weaknesses exist in the indicators for business environment, education expenditures, new business creations and the creative goods and services production.
“The commitment of India to innovation and improved innovation metrics is strong and growing, helping to improve the innovation environment. This trend will help gradually lift India closer to other top-ranked innovation economies”, said Chandrajit Banerjee, Director General of Confederation of Indian Industry (CII).
“Investing in innovation is critical to raising long-term economic growth,” said WIPO Director General Francis Gurry, “I would like to congratulate the Government of India on how it has prioritized innovation in its development strategy. In the GII, India performs better than other countries at a similar level of economic development. India also shows outstanding strengths in innovation factors such as the number of graduates in science and engineering, the quality of its scientific publications and the quality of its universities”.
28 Feb 2017 Issue
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