Global Innovation Index – 2019
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.
Image Credits: https://twitter.com/gi_index
Theme:
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.
Bodies involved:
The GII rankings are published every year by Cornell University, INSEAD and the UN World Intellectual Property Organization (WIPO) and GII Knowledge partners.
Methodology:
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.
Indian Scenario:
- 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.
- Recommendations:
- 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.
Source: PIB