Global Innovation Index

The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation. It is published by Cornell University, INSEAD, and the World Intellectual Property Organization, in partnership with other organisations and institutions, and is based on both subjective and objective data derived from several sources, including the International Telecommunication Union, the World Bank and the World Economic Forum

The overall GII score is the simple average of the Input and Output Sub-Index scores.

• The Innovation Input Sub- Index is comprised of five input pillars that capture elements of the national economy that enable innovative activities: (1) Insti-tutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication.
• The Innovation Output Sub- Index provides information about outputs that are the results of innovative activities within the economy. There are two output pillars: (6) Knowledge and technology outputs and (7) Creative outputs.

• The Innovation Efficiency Ratio is the ratio of the Output Sub-Index score over the Input Sub-Index score. It shows how much innovation output a given country is getting for its inputs.

Key findings of 2017 report

Top 10 most Innovative countries: Switzerland, Sweden, the Netherlands, the US, the UK, Denmark, Singapore, Finland, Germany and Ireland.

In 2017, India has moved up 6 places to reach 60th place among 130 countries emerging as the top-ranked economy in Central and South Asia.
Among India’s neighbors, Sri Lanka has managed to bag 90th spot and Nepal stood at 109th place. Pakistan has been ranked as 113th followed by Bangladesh.
Creating new sources of innovation driven growth is now vital to transforming the current economic upswing into the possibility of longer term growth.

More innovation convergence is needed globally, as low- and middle income countries put more emphasis on their innovation systems.

Regional clusters of inventive activity are essential to national innovation performance; improved innovation metrics on this topic are required.

Practice question:

1. Among the BRICS, which of the following nation has ranked highest?

a) China

b) India

c) Brazil

d) South Africa

Ans: a
Exp: Brazil (69), Russia (45), China (22), South Africa (57), India (60)