India takes 66th position in the Global Innovation Index
Updated: Jul 03, 2013 05:47:45pm
New Delhi, Jul 3 (KNN) India has slipped to 66th position in the Global Innovation Index from the 64th rank last year in a study that ranked 142 economies across the world based on their capacity for innovation and efficiency.
While India ranked number one in the Central and Southern Asia region followed by Kazakhstan and Sri Lanka, it was 11th in the overall Innovation efficiency ratio. Innovation efficiency reflects the Innovation output per unit of Innovation input in the economy.
Among India’s strong points were its Gross Capital formation (per cent of GDP) – rank 9, Investment in new business - rank 20, Industrial Cluster Development – rank 29, growth rate per cent of PPP GDP/Worker – Rank 14, Computer and Information Services exports – rank 1 and creative goods exports (per cent) – rank 11.
However, it ranked low in areas such as political stability – rank 123, ease of starting business – rank 128, school life expectancy – rank 109, pupil-teacher ratio – rank 108 and knowledge absorption – rank 122.
The report also said, “Despite the economic crisis, innovation is alive and well. Research and development spending levels are surpassing 2008 levels in most countries and successful local hubs are thriving. A group of dynamic middle- and low-income countries – including China, Costa Rica, India, and Senegal - are outpacing their peers, but haven’t broken into the top of the GII 2013 leader board.”
This year’s report casts additional light on the local dynamics of innovation, an area which has remained under-measured globally. It shows the emergence of original innovation eco-systems, and signals a needed shift from a usual tendency to try and duplicate previously successful initiatives.
“Dynamic innovation hubs are multiplying around the world despite the difficult state of the global economy. These hubs leverage local advantages with a global outlook on markets and talent,” said WIPO Director General Francis Gurry.
“For national-level policy makers seeking to support innovation, realizing the full potential of innovation in their own backyards is often a more promising approach than trying to emulate successful innovation models elsewhere,” he added.
The GII 2013 looked at 142 economies around the world, using 84 indicators including the quality of top universities, availability of microfinance, venture capital deals - gauging both innovation capabilities and measurable results.
Published annually since 2007, the GII has become a chief benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. This year’s study benefits from the experience of its Knowledge Partners: Booz & Company, the Confederation of Indian Industry, du and Huawei, as well as of an advisory board of 14 international experts.
United Nations Secretary-General Ban Ki-moon joined the authors of the report and its Knowledge Partners in presenting the GII 2013 findings at the High-Level Segment of the United Nation’s Economic and Social Council (ECOSOC).
The High Level Segment, held July 1-4 in Geneva, brings together heads of state, ministers and heads of international agencies, this year focusing in particular on the role of science, technology and innovation and the potential of culture in achieving the Millennium Development Goals and promoting sustainable development.
The study was published by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) and Confederation of Indian Industry (CII) as a knowledge partner. (KNN)
While India ranked number one in the Central and Southern Asia region followed by Kazakhstan and Sri Lanka, it was 11th in the overall Innovation efficiency ratio. Innovation efficiency reflects the Innovation output per unit of Innovation input in the economy.
Among India’s strong points were its Gross Capital formation (per cent of GDP) – rank 9, Investment in new business - rank 20, Industrial Cluster Development – rank 29, growth rate per cent of PPP GDP/Worker – Rank 14, Computer and Information Services exports – rank 1 and creative goods exports (per cent) – rank 11.
However, it ranked low in areas such as political stability – rank 123, ease of starting business – rank 128, school life expectancy – rank 109, pupil-teacher ratio – rank 108 and knowledge absorption – rank 122.
The report also said, “Despite the economic crisis, innovation is alive and well. Research and development spending levels are surpassing 2008 levels in most countries and successful local hubs are thriving. A group of dynamic middle- and low-income countries – including China, Costa Rica, India, and Senegal - are outpacing their peers, but haven’t broken into the top of the GII 2013 leader board.”
This year’s report casts additional light on the local dynamics of innovation, an area which has remained under-measured globally. It shows the emergence of original innovation eco-systems, and signals a needed shift from a usual tendency to try and duplicate previously successful initiatives.
“Dynamic innovation hubs are multiplying around the world despite the difficult state of the global economy. These hubs leverage local advantages with a global outlook on markets and talent,” said WIPO Director General Francis Gurry.
“For national-level policy makers seeking to support innovation, realizing the full potential of innovation in their own backyards is often a more promising approach than trying to emulate successful innovation models elsewhere,” he added.
The GII 2013 looked at 142 economies around the world, using 84 indicators including the quality of top universities, availability of microfinance, venture capital deals - gauging both innovation capabilities and measurable results.
Published annually since 2007, the GII has become a chief benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. This year’s study benefits from the experience of its Knowledge Partners: Booz & Company, the Confederation of Indian Industry, du and Huawei, as well as of an advisory board of 14 international experts.
United Nations Secretary-General Ban Ki-moon joined the authors of the report and its Knowledge Partners in presenting the GII 2013 findings at the High-Level Segment of the United Nation’s Economic and Social Council (ECOSOC).
The High Level Segment, held July 1-4 in Geneva, brings together heads of state, ministers and heads of international agencies, this year focusing in particular on the role of science, technology and innovation and the potential of culture in achieving the Millennium Development Goals and promoting sustainable development.
The study was published by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) and Confederation of Indian Industry (CII) as a knowledge partner. (KNN)
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