Global innovation Index 2020

 Global innovation Index 2020

Recently, World Intellectual Property Organisation has released The Global Innovation Index 2020.

Global Highlights:

1] Switzerland, Sweden, the USA,the UK and Netherlands are the top five countries.

2] With a group of Asian economies advancing up the rankings, the index indicates that a gradual eastward shift in the locus of innovation is underway.

3] In asian economies, China, India,the Philippines and vietnam have made the most progress on the index in recent years, with all four now among the top 50.

4] China which is the only middle income economy among the top 30 now holds the 14th position.

India specific highlights:

1] India is at the 48th position. 52nd position in 2019 rankings.

2] India has became the third most innovative lower middle income economy in the world.

3] India ranks in the top 15 in indicators such as the Information and communication technology, exports, government online services, graduates in science and engineering and research and development intensive global companies.

4] India improved the most in three pillars : Institutions(61st), Business sophistication(55th), Creative outputs(64th).

5] The India Innovation Index 2019 which was released by the NITI ayog has been widely accepted as the major step in the direction of decentralisation of innovation across all the states of India.

Global innovation Index :

1] It is published annually by Cornell University, INSEAD and WIPO.

2] It provides detailed metrics about the innovation performance of 131 countries and economies around the world.

3] Its 80 indicators explore a broad vision of innovation including political environment, education, infrastructure and business sophistication.

2020 theme : Who will Finance Innovation ?