Why in News ?
Global Innovation Index India-48 climbed 4 spots by the World Intellectual Property Organization.
Global Innovation Index India-48
- India has climbed 4 spots and has been ranked 48 by the World Intellectual Property Organization in the Global Innovation Index 2020 rankings.
- Iit comes as an uplifting news for India for its robust R&D Ecosystem.
- India was at the 52nd position in 2019 and was ranked 81st in the year 2015.
- It is a remarkable achievement to be in a league of highly innovative developed nations all over the globe.
- The WIPO had also accepted India as one of the leading innovation achievers of 2019 in the central and southern Asian region.
Implication of improvement in Ranking
- Improvement in the global innovation index rankings in the subsequent year shows that immense knowledge capital, the vibrant startup ecosystem
- Besides the amazing work done by the public & private research organizations.
- The scientific ministries like the Department of Science and Technology, the Department of Biotechnology and the Department of space have played a pivotal role national innovation Ecosystem.
- The India Innovation Index, which was released last year by the NITI Aayog, has been widely accepted as the major step in the direction of decentralisation of innovation across all the states of India.
About Global Innovation Index
- Aim of the Global Innovation Index is to provide insightful data on innovation and, in turn, to assist economies in evaluating their innovation performance and making informed innovation policy considerations.
- It is published by Cornell University, INSEAD, and the World Intellectual Property Organization, in partnership with other organisations and institution (The index was started in 2007 by INSEAD and World Business British magazine)
- How it calculated
- Computed by taking a simple average of the scores in two sub-indices, the Innovation Input Index and Innovation Output Index, which are composed of five and two pillars respectively.
- Their score is calculated by the weighted average method.
Source : PIB
Topic
GS II : Government policies and interventions for development in various sectors
Current Affairs Compilation : 2 September 2020