India moves up in global innovation club – Times of India
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MUMBAI: Governments and enterprises across the world scaled up investments in innovation amid the Covid-19 pandemic, with India featuring in the top 50, among the grouping of top innovators.
India at the 46th position has moved up by two spots (48th in GII 2020), after making it into the top 50 last year, the Global Innovation Index 2021 said.
In its annual ranking of the world’s economies on innovation capacity and output, the GII shows high-income countries continued to dominate the ranks, while a few middle-income economies, including China, Turkey, Viet Nam and India are catching up.
Scientific output, expenditures in research and development (R&D), intellectual property filings and venture capital deals continued to grow in 2020, building on strong pre-crisis performance.
India has also been portrayed as successful in developing sophisticated services that are technologically dynamic and can be traded internationally, the statement from World Intellectual Property Organisation said.
It continues to lead the world in the ICT services exports indicator, and holds top ranks in other indicators, such as domestic industry diversification and graduates in science and engineering.
Firms with outputs including software, internet and communications technologies, hardware and pharmaceuticals and biotechnology, amplified their investments in innovation and R&D, the statement added. In contrast, firms in sectors heavily hit by the pandemic’s containment measures cut back their outlays, the tracker showed.
Significantly, it shows that technological progress at the frontier holds substantial promise, with the rapid development of Covid-19 vaccines being the greatest example.
“The GII shows that although emerging economies often find it challenging to steadily improve their innovation systems, a few middle-income economies have managed to catch up in innovation with their more developed peers”, says former dean and professor of management, Cornell University, Soumitra Dutta.
“These emerging economies, among other things, have been able to successfully complement their domestic innovation with international technology transfer, develop technologically dynamic services that can be traded internationally, and ultimately have shaped more balanced innovation systems.”
India at the 46th position has moved up by two spots (48th in GII 2020), after making it into the top 50 last year, the Global Innovation Index 2021 said.
In its annual ranking of the world’s economies on innovation capacity and output, the GII shows high-income countries continued to dominate the ranks, while a few middle-income economies, including China, Turkey, Viet Nam and India are catching up.
Scientific output, expenditures in research and development (R&D), intellectual property filings and venture capital deals continued to grow in 2020, building on strong pre-crisis performance.
India has also been portrayed as successful in developing sophisticated services that are technologically dynamic and can be traded internationally, the statement from World Intellectual Property Organisation said.
It continues to lead the world in the ICT services exports indicator, and holds top ranks in other indicators, such as domestic industry diversification and graduates in science and engineering.
Firms with outputs including software, internet and communications technologies, hardware and pharmaceuticals and biotechnology, amplified their investments in innovation and R&D, the statement added. In contrast, firms in sectors heavily hit by the pandemic’s containment measures cut back their outlays, the tracker showed.
Significantly, it shows that technological progress at the frontier holds substantial promise, with the rapid development of Covid-19 vaccines being the greatest example.
“The GII shows that although emerging economies often find it challenging to steadily improve their innovation systems, a few middle-income economies have managed to catch up in innovation with their more developed peers”, says former dean and professor of management, Cornell University, Soumitra Dutta.
“These emerging economies, among other things, have been able to successfully complement their domestic innovation with international technology transfer, develop technologically dynamic services that can be traded internationally, and ultimately have shaped more balanced innovation systems.”
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