India has been ranked 52nd in Global Innovation Index – 2019
Union Minister of Commerce & Industry, Piyush Goyal, launched the Global Innovation Index (GII) 2019 in New Delhi. This is the first time that the GII is being launched in an emerging economy.
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The Theme of the 2019 GII is Creating Healthy Lives – The Future of Medical Innovation, which aims to explore the role of medical innovation as its shapes the future of healthcare.
The GII rankings are published every year by Cornell University, INSEAD and the UN World Intellectual Property Organization (WIPO) and GII Knowledge partners.
This is the 12th edition of the GII rankings 129 economies based on 80 indicators ranging from intellectual property filing rates to mobile – application creation, education spending and scientific and technical publications.
Top ranked Countries:
Switzerland remains number one is the GII index followed by Sweden, the UNited States of America, Finland, Denmark, Singapore, Germany and Israel.
- India maintains its top place in the Central and Southern Asia region as the 52nd ranked economy this year.
- India jumped five places to improve its position from 57th last year to 52nd in 2019.
- From 81 in 2015, India’s 29-place move up the GII represents the biggest jump by any major economy.
- Thanks to its high quality scientific publications and universities, India remains 2nd among middle – income economies in the quality of innovation.
- This year India reaches the 15th spot in global companies R&D expenditures.
- It also features in the GII ranking on the world’s top science and the technology clusters, with Bengaluru, Mumbai and New Delhi included in the global top 100 clusters.
INDIA’S R&D EXPENDITURE ECOSYSTEM REPORT
A special session was held to discuss India’s Research and Development (R&D) expenditure eco-system report during the Global launch of Global Innovation Index (GII) – 2019 in New Delhi. The report has been compiled by PMEAC.
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- Investments in R&D are key inputs in economic growth. The impact of this is proven on productivity, exports, employment and capital formation.
- India’s investment in R&D is a fraction of India’s GDP. It has remained constant at around 0.6% to 0.7% of India’s GDP.
- This is below the expenditure of countries like the US (2.8), China (2.1), Israel (4.3) and Korea (4.2).
- Government expenditure, almost entirely the Central Government, is the driving force of R&D in India which is in contrast to the advanced countries where private sector is the dominant and driving force of R&D spend.
- There is a need for greater participation of State Governments and private sector in overall R&D spending in India especially in application oriented research and technology development.
- The growth in R&D expenditure should be commensurate with the growth of GDP and should reach at least two percent of GDP by 2022.