India jumps to 46th place on the Global Innovation Index | Latest India News

India has improved its ranking in the Global Innovation Index (GII) 2021 report and currently ranks 46th from 48th last year, according to the results of the World Intellectual Property Organization (WIPO) latest innovation index report 2020 on Monday.

The report ranked Switzerland, Sweden, the USA, Great Britain and South Korea as the most innovative economies. China and France move up the ranking, which continues to be dominated by Asia, Europe and North America.

“The constant improvement in the GII ranking is thanks to the immense knowledge capital, the vibrant start-up ecosystem and the amazing work of public and private research organizations,” said a statement by the Indian government.

“As we continue to advance in saving lives and livelihoods and shaping national economic growth, the GII-2021 will be an important reference point for all countries to assess their ability and willingness to innovate, which will go a long way in promoting economic recovery will do. “” added it.

The government attributed the country’s improved performance to the departments of atomic energy, science and technology, biotechnology and space travel.

The government statement goes on to say that India’s think tank NITI Aayog, in collaboration with the Confederation of Indian Industries (CII) and the World Intellectual Property Organization (WIPO), will virtually host the India Launch of the GII and Global Innovation Conclave from May 21-22 September.

According to the press release, the opening session will be attended by many high-level dignitaries, including Dr. VK Saraswat, member of NITI Aayog; Dr. K VijayRaghavan, Chief Scientific Advisor to the Government of India; Amitabh Kant, CEO of NITI Aayog; Mr. Daren Tang, Director General of WIPO; Dr. Soumitra Dutta, Author, GII and Professor, Cornell University, United States of America; Vipin Sondhi, Chairman of the CII National Committee on Technology, Innovation and R&D and Innovation and Managing Director, Ashok Leyland Ltd. and Chandrajit Banerjee, General Manager, CII.

In its report, WIPO said this innovation advanced last year despite the effects of the Covid-19 outbreak. The technology, pharmaceutical and biotech industries increased their investments, although hard-hit sectors such as transport and travel reduced their spending.

It also warned that change was moving too slowly across the “innovation landscape”, saying a wider range of countries should benefit as the world rebuilds after the pandemic subsides.