The World Intellectual Property Organization (WIPO) on September 29 released the Global Innovation Index (GII) 2022.
Key points
- Switzerland has emerged as the world’s most innovative economy for the 12th consecutive year.
- For the first time, India has made remarkable progress in the global innovation index ranking finding a place in the top 40.
- India secured the 40th position in the Global Innovation Index (GII). Last year, India was at the 46th position.
- The report said that emerging economies are showing consistently strong performance, with India jumping to the 40th position while Turkey is placed at the 37th position.
- The GII reveals the most innovative economies in the world, ranking the innovation performance of 132 economies.
- According to the report, Switzerland, the United States, Sweden, the United Kingdom and the Netherlands are the world’s most-innovative economies.
- The rankings were based on the areas of human and capital research, business sophistication, infrastructure and technology outputs among others.
- As per the Index, India is the innovation leader in the lower middle-income group.
- As per the report, 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).
About Global Innovation Index (GII)
- The GII 2022 report — in its 15th edition this year — is published by WIPO, in partnership with the Portulans Institute and with the support of its corporate partners including the Confederation of Indian Industry (CII), the Brazilian National Confederation of Industry (CNI), Ecopetrol (Colombia), and the Turkish Exporters Assembly (TIM).
GII is based on 7 pillars: The GII 2022 is calculated as the average of two sub-indices:
- The Innovation Input Sub-Index gauges elements of the economy that enable and facilitate innovative activities and is grouped in five pillars: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication.
- The Innovation Output Sub-Index captures the actual result of innovative activities within the economy and is divided in two pillars: (6) Knowledge and technology outputs and (7) Creative outputs.
