India climbs to the 40th rank in the Global Innovation Index of WIPO
Tags: Economy/Finance International News
The World Intellectual Property Organization (WIPO) on 29 September released the Global Innovation Index 2022.
India has reached the 40th position in the Global Innovation Index of the World Intellectual Property Organization.
India has moved up from 81st in 2015 to 40th in 2022 in the Global Innovation Index (GII).
India was 46th position in the ranking last time.
In the index Switzerland has emerged as the world's most innovative economy for the 12th consecutive year.
Switzerland continues to be the world leader in innovation for the 12th year in a row.
It is a leader globally in patents by innovation output, origination, software spend, high-tech manufacturing, production and export complexity.
The US ranks second in the index, followed by Sweden, the UK and the Netherlands.
About Global Innovation Index
WIPO began its publication in 2012 along with GII.
Key criteria to measure innovation cover institutions, human capital and research, infrastructure, credit, investment, linkage, creation, dissemination of knowledge, and creative output.
It is calculated by three measures-
Innovation Input Sub-Index
Innovation Output Sub-Index
The overall GII score is the average of the Input and Output Sub-Indices, on which the GII economy rankings are then produced.
It is the global forum for intellectual property services, policy, information and cooperation.
It is a self-funding agency of the United Nations and its member states are 193.
Its mission is to lead the development of a balanced and effective international Intellectual Property system that enables innovation and creativity for the benefit of all.
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