According to the rankings recently released by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO), India has climbed 15 spots, from 81 last year, to 66 in the Global Innovation Index (GII), thus maintaining the top spot in the Central and South Asia regions. India is up the several places to secure a higher global spot compared to the previous year, according a UN report which calls for more transparent policies if a country aspires to become a global driver of innovation.
India scored high on tertiary education and R&D, the quality of its universities and scientific publications, its market sophistication and information and communication technology service exports, where it ranks first in the world, according to the index.
The index said that India has the ability to create a unique spot in innovation history to meet its own market requirements by using its cultural advantages of frugality and sustainability. Stressing that India’s priorities for innovation need to be in the areas of energy, water, transport, health care, food security and digital consumption, the index said that India should strengthen its own talent pool and leverage global talent “in these market-pull areas”. “Furthermore, India improves across all indicators within the Knowledge absorption sub-pillar and it turns in a solid performance in the GII (Global Innovation Index) model’s newly incorporated research talent in business enterprise, where it ranks 31st”, said the UN report.
Switzerland, Sweden, the UK, the US, Finland and Singapore lead the 2016 GII rankings. This year, China also joined the world’s 25 most-innovative economies, becoming the first middle-income country to enter the top 25 of the index in its nine editions of surveying the innovative capacity of over 100 economies.