• UGI USER
  • Sep 04, 2024
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INDIA RANKS 40TH IN 2023 GLOBAL INNOVATION INDEX

Why in the news?

  • India secured the 40th position out of 132 economies in the 2023 Global Innovation Index (GII) by the World Intellectual Property Organization (WIPO).
  • This ranking highlights India’s consistent progress in the global innovation landscape.
source:krctimes

About India’s Rapid Climb in Innovation Rankings:

  • NITI Aayog emphasised that India is among the countries that have advanced the fastest in GII rankings over the past decade.
  • The report underscores India’s significant strides in innovation, making it one of the top performers in this area globally.

India’s Leadership in Regional Innovation

  • India emerged as a Regional GII leader, surpassing expectations in innovation relative to its economic development.
  • This marks the 13th consecutive year that India has been recognized as an innovation over-performer.
  • The GII 2023 evaluates the innovation ecosystem of 132 economies and tracks the latest global innovation trends.
About Global Innovation Index (GII):

  • GII is a key reference for assessing an economy’s innovation ecosystem performance.
  • Published annually, it serves as a valuable benchmarking tool for policymakers, business leaders, and stakeholders.
  • It helps track and evaluate progress in innovation over time.

What is the World Intellectual Property Organization (WIPO)?

  • WIPO is the global forum for Intellectual Property (IP) services, policy, information, and cooperation.
  • A self-funding United Nations agency with 193 member states, established in 1967.
  • WIPO aims to develop a balanced and effective international IP system to foster global innovation and creativity.

Key Initiatives related to innovation in India:

  • Digital India: A government initiative to transform India into a digitally empowered society and knowledge economy, promoting innovation through digital infrastructure, services, and literacy.
  • Unified Payments Interface (UPI): A real-time payment system facilitating seamless, instant financial transactions, fostering fintech innovation.
  • National Education Policy: Focuses on fostering creativity and critical thinking, integrating technology in education.
  • Atal Tinkering Labs: Established in schools to encourage creativity, innovation, and problem-solving skills among students.

Associated Article:

https://universalinstitutions.com/overturn-cultural-practices-and-dogmas-to-spur-rd-in-india/