Global Innovation Index Rankings 2021

About 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 organizations and institutions.
• It 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 index was started in 2007 by INSEAD and World Business, a British magazine.
• The GII is commonly used by corporate and government officials to compare countries by their level of innovation.

Global Innovation Index (GII) 2021:                                           

Global Performance:

• Switzerland, Sweden, U.S., and U.K. continue to lead the innovation ranking, and have all ranked in the top 5 in the past three years.
• The Republic of Korea joins the top 5 of the GII for the first time in 2021.
• Asian Countries: Four Asian economies feature in the top 15: Singapore (8), China (12), Japan (13) and Hong Kong, China (14).

India’s Performance:

• India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81st in 2015 to 46th in 2021.
• India ranks 2nd among the 34 lower-middle-income group economies.
• India ranks 1st among the 10 economies in Central and Southern Asia.
• In India, the Scientific Departments like the Department of Atomic Energy; the Department of Science and Technology; the Department of Biotechnology and the Department of Space have played a pivotal role in enriching the National Innovation Ecosystem.
• India has been portrayed as successful in developing sophisticated services that are technologically dynamic and can be traded internationally.
• This year, the NITI Aayog in partnership with the Confederation of Indian Industry (CII) and the World Intellectual Property Organisation (WIPO), is hosting, virtually the India Launch of the GII and the Global Innovation Conclave during September 21-22,2021.

Other Findings from the GII 2021:

1. Investments in innovation reached an all-time high before the pandemic with R&D growing at an exceptional rate of 8.5% in 2019.
2. Government budget allocations for the top R&D spending economies showed continued growth in 2020.
3. The publication of scientific articles worldwide grew by 7.6% in 2020.

                                               ================================