Commonwealth Innovation Index

The commonwealth of nations consists of 54 nations that are economically developed and also developing nations as well. Though the members have no legal obligations to each other, they are interconnected on the grounds of values for democracy, human rights, and also the rule of law treasured in the commonwealth charter.

The Commonwealth Innovation Index denotes the ranking of these countries in terms of their ecosystem performances and focuses on the strength and weaknesses of the member countries. This ranking is based on the World Intellectual Property Organization's global innovation. We can proudly proclaim the 9th position of our nation, India, in 2020, and with this, the constant efforts for global innovation are never tiring. In 1918, India was in the 10th position. As per the latest data for 2020.

Top 5 Countries - Commonwealth Innovation Index

The top leaders who ranked top 5 amongst the member nation are:

1. United Kingdom, U.K,
2. Singapore
3. Canada
4. Australia
5. New Zealand

While Cameroon, Zambia, and Mozambique were placed in the bottom three, respectively.

Commonwealth Innovation Index - Causes Behind the Changing Ranking

It has been noticed that approximately 31% of commonwealth countries generally accelerate their positions through their noteworthy improvements, while similarly 1/3rd of commonwealth countries have their graphs constantly declining because of their inefficient performance in the innovation ecosystem, say, for instance, Cameroon, Zambia, and Mozambique were in the bottom three ranking amongst the 29 nations that are enlisted in the Commonwealth Innovation Index. Due to insufficient data, only 29 out of 54 countries are featured in the index. The index is important because it simultaneously highlights the innovation's strengths and weaknesses.

Commonwealth Innovation Index - High Points That Need to Be Mentioned

The commonwealth secretariat makes an effort to ensure that all commonwealth nations are progressive in the digital economy world, encourage informative programs about eTrade Readiness Assessment, and partner with UNCTAD and ILO to boost eTrade for women as well. For instance, a colossal online learning course on agriculture, MOOCs, was successfully carried out by the commonwealth countries.

Commonwealth innovation fund (CIF) would have GIF as a delivery partner for hosting CIF.

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Commonwealth Youth Rewards is quite an inspiring award event to motivate budding youth who develop innovative ideas to bring justifiable growth to the countries.

To shape parliamentary capacity and knowledge, CPA masterclasses through video conferencing are also held to encourage the productivity and development of any nation, which is finally highlighted in the Commonwealth Innovation Index.

FAQs on Commonwealth Innovation Index

Q1. What is the Commonwealth Innovation Index?

Ans: The Commonwealth Innovation Index is dependent on the WIPOGII, the world Intellectual Property Organisation's Global Innovation Index. It gives ranking to the Commonwealth nations for their economic performance and progress.

Q2. What is the full form of UNCTAD, in context with the Commonwealth Innovation Index?

Ans: The full form of UNCTAD, in the context of the Commonwealth Innovation Index, is United Nations Conference on Trade and Development and in association with the International Labour Organization, ILO, to spread awareness regarding eTrade and digital economy progress.

Q3. What is the rank of India in commonwealth innovation?

Ans: India showed remarkable progress and was ranked 9th on the Commonwealth Innovation Index in 2020 compared to the 10th position in 2018.

Q4. Who topped the Commonwealth Innovation Index in 2020?

Ans: The United Kingdom (UK) was first in the Commonwealth Innovation Index in 2020, followed by Singapore in the 2nd and Canada in the 3rd position.