Global Innovation Index

 

Latest Context:

Recently, India maintains its 40th position out of 132 economies in the Global Innovation Index 2023, as released by the World Intellectual Property Organization (WIPO).

About Global Innovation Index 

• The GII serves as a prominent point of reference for evaluating how well an economy's innovation ecosystem performs.
• Released annually, it also serves as an important benchmarking tool used by policymakers, business executives, and various stakeholders to measure progress in innovation over time.

About WIPO:

• WIPO is a global organization focused on Intellectual Property (IP) services, policies, information, and cooperation.
• It operates under the United Nations and has 193 member states.
• WIPO's mission is to foster a balanced and effective international IP system that promotes innovation and creativity for the benefit of all.

Key Highlights of the Index

1. Most Innovative Economies in 2023:

• Switzerland leads as the most innovative economy in 2023.
• The top five also include Sweden, the United States, the United Kingdom, and Singapore. Singapore tops the list among South East Asia, East Asia, and Oceania (SEAO) region economies.

2. Top Science and Technology (S&T) Clusters in the World:

• Tokyo–Yokohama is the top Science and Technology innovation cluster in 2023, followed by Shenzhen–Hong Kong–Guangzhou, Seoul, Beijing, and Shanghai-Suzhou.
• S&T clusters are areas with the highest density of inventors and scientific authors.
• China now surpasses the United States in having the largest number of clusters globally.

Key Highlights Related to India

1. Overall Ranking and Growth:

• India secures the 40th position in GII 2023, a significant improvement from the 81st spot in 2015.
• India leads among lower-middle-income countries and in the Central and South American region.
• India's strong innovation landscape is supported by impressive rankings in ICT services exports, venture capital investments, graduates in science and engineering, and global corporate R&D investors.

2. S&T Clusters:

• India has 4 S&T clusters among the world's top 100, compared to China's 24 and the US's 21. These clusters include Chennai, Bengaluru, Mumbai, and Delhi.

3. India's Progress:

• India's progress in innovation is attributed to its abundant knowledge capital and a flourishing startup ecosystem, along with efforts from public and private research organizations.
• The COVID-19 pandemic highlighted the importance of innovation in addressing challenges, aligning with India's vision of Atma Nirbhar Bharat (Self-reliant India).

4. Need for Improvement:

• Areas needing improvement include infrastructure, advanced business practices, and institutions.
• NITI Aayog is actively working to promote policy-led innovation in sectors like electric vehicles, biotechnology, nanotechnology, space, and alternative energy sources.

Initiatives Related to Innovation in India:

1. Digital India: A government program aimed at digitally transforming the country, promoting technology adoption, and increasing internet accessibility.
2. Unified Payments Interface (UPI): A revolutionary digital payments system facilitating fast and convenient cashless transactions through smartphones.
3. National Education Policy: A comprehensive reform in India's education system, emphasizing flexibility, creativity, and innovation in teaching and learning.
4. Atal Tinkering Labs: An initiative fostering innovation and problem-solving skills among school students through hands-on learning experiences and STEM (Science, Technology, Engineering, and Mathematics) activities.

 

Question: What is the primary role of the Global Innovation Index (GII) as mentioned in the provided information?

A) To determine the world's most innovative economies.

B) To evaluate the performance of an economy's innovation ecosystem.

C) To rank countries based on their intellectual property services.

D) To measure the level of technological advancement in various industries.

 

Correct Answer: B) To evaluate the performance of an economy's innovation ecosystem.

 

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