Daily Current Affairs : 29-September-2023
In the ever-evolving landscape of global innovation, India has secured its position at the 40th rank out of 132 economies in the prestigious Global Innovation Index 2023, as published by the World Intellectual Property Organization (WIPO). This achievement speaks volumes about India’s progress in the field of innovation and technology. Let’s delve deeper into the factors that have propelled India’s ascent and the significance of this ranking on the global stage.
Understanding the Global Innovation Index (GII)
The Global Innovation Index (GII) project, initiated by Soumitra Dutta in 2007, serves as a crucial benchmark for assessing the innovation ecosystem performance of 132 countries. WIPO, a specialized agency of the United Nations, collaborates with the GII, co-publishing the index since 2012. The index not only tracks global innovation trends but also acknowledges the efforts of nations in fostering innovation.
India’s Performance and Recognition
India’s journey in the GII has been nothing short of remarkable. From a modest rank of 81 in 2015, India has steadily climbed the ladder, now standing proudly at 40th place in 2023. WIPO’s report highlights India as one of the 21 economies consistently outperforming in innovation relative to its level of development. Notably, among middle-income economies, only a handful, including India, China, Malaysia, Bulgaria, and Türkiye, have secured a place among the top 40. India’s exceptional performance in various criteria within the Central and South Asian region signifies its growing prowess in innovation.
Driving Factors Behind India’s Success
Several driving factors have contributed to India’s impressive performance in the GII:
- Knowledge Capital: India boasts immense knowledge capital, a cornerstone of innovation.
- Vibrant Startup Ecosystem: The country nurtures a dynamic startup community, fostering entrepreneurship and innovation.
- Collaborative Efforts: Public and private research organizations in India have collaborated effectively, enhancing the innovation ecosystem.
Government departments, including the Department of Science and Technology, Department of Biotechnology, Department of Space, and the Department of Atomic Energy, have played pivotal roles. The Atal Innovation Mission and NITI Aayog have significantly expanded the innovation landscape, catalyzing progress in diverse sectors like electric vehicles, biotechnology, nanotechnology, space, and alternative energy sources.
Significance of GII: A Global Perspective
The Global Innovation Index serves as a valuable tool for governments worldwide. It enables nations to assess their innovation-led social and economic changes critically. Over the years, GII has become a policy instrument for governments, fostering self-reflection and spurring innovation initiatives. The report’s observation on the surge in electric vehicle market share from 4% in 2012 to 14% in 2022 underscores the transformative power of innovation on a global scale.
Important Points:
- India retains 40th rank out of 132 economies in the Global Innovation Index 2023 published by WIPO.
- The Global Innovation Index (GII) project was initiated by Soumitra Dutta in 2007 and is co-published by WIPO since 2012.
- GII tracks innovation ecosystem performance and global innovation trends of 132 economies.
- Switzerland tops the GII ranking, followed by Sweden and the USA.
- India’s remarkable progress: from 81st in 2015 to 40th in 2023.
- Only five middle-income economies, including India, are among the top 40 in GII.
- India outperformed in innovation relative to its level of development for 13 consecutive years.
- Factors contributing to India’s success: immense knowledge capital, vibrant startup ecosystem, and collaborative efforts of public and private research organizations.
- Government departments, Atal Innovation Mission, and NITI Aayog played crucial roles in enhancing the innovation ecosystem.
- GII is a significant global tool for governments to assess innovation-led social and economic changes.
- Electric vehicle market share globally increased from 4% in 2012 to 14% in 2022.
- WIPO, established in 1974, is the global forum for intellectual property policy, services, information, and cooperation, headquartered in Geneva.
Why In News
India maintains its 40th position out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization (WIPO). Spearheaded by Soumitra Dutta in 2007, the Global Innovation Index (GII) project has been a significant initiative in evaluating global innovation capabilities. WIPO’s collaboration with the GII commenced in 2011, marking a crucial step in promoting global innovation, and since 2012, they have been co-publishing the GII, further enhancing its global impact.
MCQs about Global Innovation Index 2023
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What is India’s rank in the Global Innovation Index 2023?
A. 15th
B. 32nd
C. 40th
D. 51st
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Who initiated the Global Innovation Index (GII) project?
A. Mark Zuckerberg
B. Soumitra Dutta
C. Elon Musk
D. Jeff Bezos
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Which country topped the Global Innovation Index 2023 rankings?
A. India
B. Switzerland
C. Sweden
D. USA
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Which organization co-publishes the Global Innovation Index (GII)?
A. United Nations
B. World Health Organization
C. World Intellectual Property Organization (WIPO)
D. International Monetary Fund (IMF)
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