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.

Important facts

  • 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-

  1. Innovation Input Sub-Index

  2. Innovation Output Sub-Index

  3. The overall GII score is the average of the Input and Output Sub-Indices, on which the GII economy rankings are then produced.

About WIPO

  • 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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