Global Innovation Index 2022

Context

India has climbed to the 40th rank in the recently launched Global Innovation Index of the World Intellectual Property Organization. 

Key-highlights of the Index

• The index reveals that "a progressive eastward shift in the locus of innovation" is underway, with several Asian economies climbing the rankings.
• The top five countries: Switzerland, Sweden, the United States, the United Kingdom, and the Republic of Korea are the top five countries in the GII.
• India’s Ranking:  India has gone up from 46th rank in 2021 to 40th rank in 2022.
• India has consistently improved its innovation ranking over the last five years, making it one of the Central and Southern Asian innovators.
• The most progress Nations in Asian economies: China, India, the Philippines, and Vietnam are the Asian economies that have made the most progress on the index in recent years, with all four currently ranking in the top 50.
• China, the only middle-income country, is ranked 11th this year.

What is the Global Innovation Index?

• Global Innovation Index is a marker of innovative progress for 132 countries worldwide. 
• Each year, 132 countries compete to bag the top position in GII to indicate their innovation-driven growth.
• This ranking is conducted annually by the World Intellectual Property Organization.
• Through this ranking, governments can determine the pace of progress in their respective countries. 
• The Global Innovation Index ranking was started by INSEAD and World Business in 2007. 
• GII has around 80 indicators, which are used to determine where a country stands in terms of innovation. 
• Some of these indicators include education, politics, corporate sophistication, infrastructure, human resource, etc.

Rankings based on Areas 

• The rankings were based on the areas of
• Human and capital research
• Business sophistication
• Infrastructure
• Technology outputs