Switzerland was named the most innovative economy in the world for the 12th year in a row in the Global Innovation Index (GII) 2022, which was published on Thursday by the World Intellectual Property Organization (WIPO).

“Switzerland remains the world’s leader in innovation for the 12th consecutive year. It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing and production and export complexity,” the Global Innovation Index 2022 read.

The United States (US) came in second, ahead of Sweden, the United Kingdom (UK), and the Netherlands.

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The rankings took into account, among other things, infrastructure and technology outputs, business sophistication, people and capital research, and more.

India secured the 40th position in the Global Innovation Index. This is the first time the country entered the top 40. Last year, India was at the 46th position.

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India Innovating Like Never Before! 
 
India climbs to the 40th rank in the Global Innovation Index of <a href="https://twitter.com/WIPO?ref_src=twsrc%5Etfw">@WIPO</a>, a huge leap of 41 places in 7 years. 
 
The steady rise testifies that India under the leadership of PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@NarendraModi</a> ji is rapidly emerging as the global innovation hub. <a href="https://t.co/pltqW8kdUh">pic.twitter.com/pltqW8kdUh</a>
— Piyush Goyal (@PiyushGoyal) <a href="https://twitter.com/PiyushGoyal/status/1575454582251352064?ref_src=twsrc%5Etfw">September 29, 2022</a></blockquote>
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With India's progress in ranking, Union commerce and textiles minister Piyush Goyal tweeted the country is innovating like never before. “India climbs to the 40th rank in the Global Innovation Index of WIPO, a huge leap of 41 places in 7 years. The steady rise testifies that India under the leadership of Prime Minister Narendra Modi is rapidly emerging as the global innovation hub,” Goyal said.

(With inputs from agencies)

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Switzerland was named the most innovative economy in the world for the 12th year in a row in the Global Innovation Index (GII) 2022, which was published on Thursday by the World Intellectual Property Organization (WIPO).

Switzerland was named the most innovative economy in the world for the 12th year in a row in the Global Innovation Index (GII) 2022, which was published on Thursday by the World Intellectual Property Organization (WIPO). “Switzerland remains the world’s leader in innovation for the 12th consecutive year. It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing and production and export complexity,” the Global Innovation Index 2022 read. The United States (US) came in second, ahead of Sweden, the United Kingdom (UK), and the Netherlands. Also read | At least 12 dead as Hurricane Ian causes massive devastation in Florida The rankings took into account, among other things, infrastructure and technology outputs, business sophistication, people and capital research, and more. India secured the 40th position in the Global Innovation Index. This is the first time the country entered the top 40. Last year, India was at the 46th position. India Innovating Like Never Before! India climbs to the 40th rank in the Global Innovation Index of @WIPO, a huge leap of 41 places in 7 years. The steady rise testifies that India under the leadership of PM @NarendraModi ji is rapidly emerging as the global innovation hub. pic.twitter.com/pltqW8kdUh — Piyush Goyal (@PiyushGoyal) September 29, 2022 × With India's progress in ranking, Union commerce and textiles minister Piyush Goyal tweeted the country is innovating like never before. “India climbs to the 40th rank in the Global Innovation Index of WIPO, a huge leap of 41 places in 7 years. The steady rise testifies that India under the leadership of Prime Minister Narendra Modi is rapidly emerging as the global innovation hub,” Goyal said. (With inputs from agencies) WATCH WION LIVE HERE:

Switzerland again tops Global Innovation Index, India up six spots

#GravitasPlus with Palki Sharma Upadhyay | This #NationalScienceDay, should India rethink its approach to teaching science? Make it about passion not compulsion. Research, not rote learning. Focus on Innovation in order to be truly #Atmanirbhar.

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Securing the 48th spot, India for the time entered the list of the world's 50 most innovative countries.

The Global Innovation Index (GII) list 2020 was released on Wednesday jointly by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School.

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Switzerland, Sweden, the US, the UK and the Netherlands led the list, and the top 10 rankings largely figure countries with high-income.

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India has moved up four places as in 2019, it secured 52nd position and gained 81st spot in 2015.&nbsp;

The release said that the list shows a gradual "eastward shift in the locus of innovation" as countries like India, China, the Philippines and Vietnam have shown a significant rise in rankings over the years.&nbsp;

It also said India has become the third-most innovative country in the category of lower-middle-income economies with the addition of new indicators and improvements in various parameters of the GII.

"Thanks to universities such as the Indian Institute of Technology in Bombay and Delhi and the Indian Institute of Science in Bengaluru, and its top scientific publications, India is the lower middle-income economy with the highest innovation quality," the release said.

India ranks in the top 15 in fields including ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&amp;D-based global companies.

The index ranked 131 countries on metrics such as institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.&nbsp;

Securing the 48th spot, India for the time entered the list of the world's 50 most innovative countries. The Global Innovation Index (GII) list 2020 was released on Wednesday jointly by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School.

Securing the 48th spot, India for the time entered the list of the world's 50 most innovative countries. The Global Innovation Index (GII) list 2020 was released on Wednesday jointly by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School. Also read | India bans 118 more Chinese mobile apps, including PUBG Switzerland, Sweden, the US, the UK and the Netherlands led the list, and the top 10 rankings largely figure countries with high-income. Also read | PM Modi launches 'Aatmanirbhar Bharat App Innovation Challenge' for techies, start-up community India has moved up four places as in 2019, it secured 52nd position and gained 81st spot in 2015. The release said that the list shows a gradual "eastward shift in the locus of innovation" as countries like India, China, the Philippines and Vietnam have shown a significant rise in rankings over the years. It also said India has become the third-most innovative country in the category of lower-middle-income economies with the addition of new indicators and improvements in various parameters of the GII. "Thanks to universities such as the Indian Institute of Technology in Bombay and Delhi and the Indian Institute of Science in Bengaluru, and its top scientific publications, India is the lower middle-income economy with the highest innovation quality," the release said. India ranks in the top 15 in fields including ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&D-based global companies. The index ranked 131 countries on metrics such as institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.

India enters list of world's 50 most innovative countries

Marking a major advancement amid the coronavirus pandemic, India has moved up four places to rank 48th in the Global Innovation Index (GII) 2020 report which was released on Wednesday.

Your Story: India jumps 4 places to rank among top 50 in Global Innovation Index

Rising by five positions since last year, India was placed at 52 rank&nbsp;in Global Innovation Index (GII) 2019 on Wednesday.

The country&nbsp;was positioned at 57th rank in&nbsp;GII 2018.

The rankings,&nbsp;published annually, were&nbsp;released by the Commerce and Industry Minister Piyush Goyal.

Switzerland was placed at the top of the GII list while&nbsp;Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel were listed in the top ten slots of&nbsp;the Global Innovation Index.

The ranking in GII is determined by 80 indicators which include intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

&nbsp;

&nbsp;

Rising by five positions since last year, India was placed at 52 rank in Global Innovation Index (GII) 2019 on Wednesday. The country was positioned at 57th rank in GII 2018.

Rising by five positions since last year, India was placed at 52 rank in Global Innovation Index (GII) 2019 on Wednesday. The country was positioned at 57th rank in GII 2018. The rankings, published annually, were released by the Commerce and Industry Minister Piyush Goyal. Switzerland was placed at the top of the GII list while Sweden, the US, the Netherlands, the UK, Finland, Denmark, Singapore, Germany and Israel were listed in the top ten slots of the Global Innovation Index. The ranking in GII is determined by 80 indicators which include intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

India improves its ranking in Global Innovation Index, placed at 52 position

India was today ranked 1<a href="http://www.wionews.com/india-news/modi-to-address-world-from-same-london-venue-as-gandhi-martin-luther-king-130623">0th on a new Commonwealth Innovation Index</a>, topped by the UK, Singapore and Canada.&nbsp;

The index was launched as part <a href="http://www.wionews.com/india-news/unprecedented-welcome-awaits-modi-in-britain-say-officials-130550">of a new Commonwealth Innovation Hub </a>on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) here.

It has been created in partnership with the United Nations World Intellectual Property Organisation (WIPO) and its annual Global Innovation Index (GII).&nbsp;

It is aimed at providing a tool that allows member states, organisations and citizens to benchmark themselves against 53 countries of the Commonwealth, with the new innovation hub offering a dedicated online space for Commonwealth countries to showcase what they have to offer and share with other members.

"Nearly 60 per cent of the Commonwealth population is under 30 with a lot of talent and innovation and with this new digital platform, we now get to pool it and share it," Commonwealth Secretary-General Patricia Scotland said.

"This is part of the reform and renewal process of the organisation, which will take it into a higher energy orbit and into the information age. It makes the Commonwealth even more relevant and fit for its sharing and caring purpose," she said.

The Global Innovation Fund (GIF) will work as the delivery partner to host a new Commonwealth Innovation Fund (CIF), which will use GIF's existing due diligence processes for sourcing, evaluating and investing to generate a high-quality portfolio of enterprises that are aligned with the Commonwealth Secretariat's priorities.&nbsp;

The GIF will manage the fund and its investments, which will be targeted at innovative projects across Commonwealth countries that "save and improve lives".

During the ongoing CHOGM, the CIF will engage with member-countries to gain financial and other support for the fund and India is expected to be among the key countries to collaborate.

"Sectors such as health-care, innovation, digital technology and cybersecurity will be among the core focus areas during the visit, Prime Minister Narendra Modi tweeted in reference to his UK visit for CHOGM this week.

The CIF will deploy grant, equity and debt investments to support innovators across the Commonwealth to accelerate the development, testing and scaling up of evidence-based and market-tested innovations.&nbsp;

The target size of the new fund, with financial commitments from member-countries, is expected to be 25 million pounds of initial funds to prove the new model.

The index was launched as part of a new Commonwealth Innovation Hub on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) here

India was today ranked 10th on a new Commonwealth Innovation Index, topped by the UK, Singapore and Canada. The index was launched as part of a new Commonwealth Innovation Hub on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) here. It has been created in partnership with the United Nations World Intellectual Property Organisation (WIPO) and its annual Global Innovation Index (GII). It is aimed at providing a tool that allows member states, organisations and citizens to benchmark themselves against 53 countries of the Commonwealth, with the new innovation hub offering a dedicated online space for Commonwealth countries to showcase what they have to offer and share with other members. "Nearly 60 per cent of the Commonwealth population is under 30 with a lot of talent and innovation and with this new digital platform, we now get to pool it and share it," Commonwealth Secretary-General Patricia Scotland said. "This is part of the reform and renewal process of the organisation, which will take it into a higher energy orbit and into the information age. It makes the Commonwealth even more relevant and fit for its sharing and caring purpose," she said. The Global Innovation Fund (GIF) will work as the delivery partner to host a new Commonwealth Innovation Fund (CIF), which will use GIF's existing due diligence processes for sourcing, evaluating and investing to generate a high-quality portfolio of enterprises that are aligned with the Commonwealth Secretariat's priorities. The GIF will manage the fund and its investments, which will be targeted at innovative projects across Commonwealth countries that "save and improve lives". During the ongoing CHOGM, the CIF will engage with member-countries to gain financial and other support for the fund and India is expected to be among the key countries to collaborate. "Sectors such as health-care, innovation, digital technology and cybersecurity will be among the core focus areas during the visit, Prime Minister Narendra Modi tweeted in reference to his UK visit for CHOGM this week. The CIF will deploy grant, equity and debt investments to support innovators across the Commonwealth to accelerate the development, testing and scaling up of evidence-based and market-tested innovations. The target size of the new fund, with financial commitments from member-countries, is expected to be 25 million pounds of initial funds to prove the new model.

India ranked 10th on new Commonwealth innovation index

With a favourable demography, vibrant democracy and open economy, India is well placed to benefit from a global wave of entrepreneurship. A report noted, new company registrations witnessed strong growth, from around 15K in 1980s to 100K in 2010s, which is a healthy sign for the Indian economy. Increased investment and funding, supportive government policies coupled with a relaxation in tax brackets are spearheading India&rsquo;s StartUp ecosystem.&nbsp;

&nbsp;

A strong and &lsquo;sustainable&rsquo; entrepreneurial culture is vital, as it supports &lsquo;job creation&rsquo; in an economy where more than a million people enter the job market every month, i.e. 12 million a year. But what is most worrying is that Indian entrepreneurs are not innovating enough. Innovation is the most important pillar for &lsquo;sustainability&rsquo; of entrepreneurial spirit.

&nbsp;

We have been successful in emulating innovative strategies and business plans, adopting it for Indian consumers and economy or at best making it affordable. Be it e-commerce, cab networking and aggregating, hospitality network, video streaming or for that matter food delivery &ndash; we have either adopted or adjusted &lsquo;borrowed&rsquo; idea to make it a commercial success, but have very few to call our own innovation.&nbsp;

&nbsp;

What India needs from entrepreneurs is a real value addition to the economy. However, many such enterprises chose to repackage existing products or services, making them contribute little to the nation&rsquo;s economy. As a result, fresh fruit juices available from street vendors is now available as a packed &lsquo;hygienic&rsquo; preserved product or a mobile application to buy &lsquo;fresh vegetables&rsquo; that were earlier available from a corner shop. And many of such ventures often result in &lsquo;job replacement&rsquo; rather than &lsquo;job creation&rsquo;. It favours an organised enterprise over several small and independent unorganized sector elements, and contributes little to our economic output.

&nbsp;

A study by IBM Institute for Business Value and Oxford Economics noted that around 90% of Indian StartUps fail within five years, and the most common reason was &lsquo;lack of innovation&rsquo;. India moved to 60th place in Global Innovation Index in 2017, six places up from its 66th rank in 2016 &ndash; it was still behind other Lower Middle-Income countries, including Mongolia and Vietnam. While Upper Middle Income China was ranked far ahead at 22, ahead of several Higher Income European nations.&nbsp;

&nbsp;

India needs a more rational and sustainable StartUp ecosystem &ndash; where there is a clear distinction between an innovation, social impact venture and a &lsquo;normal&rsquo; commercial venture.&nbsp; While there is no criticism of an ordinary commercial enterprise and its larger impact on the economy, there must be a clear rationale for the government on the type of entrepreneurial energy that needs support and public funding - along with a clear definition on &lsquo;innovation&rsquo;.

&nbsp;

We have been able to rationalise our fuel and education subsidies &ndash; now is the time to rationalise our support and public funding for our entrepreneurial enthusiasm. As a fellow Oxonian and Dean of Stanford Graduate School of Business, Jonathan Levin says, &ldquo;India has many strengths: A large market for new businesses, a young population, a workforce that is increasingly educated and an entrepreneurial culture&hellip;all the characteristics that fuelled recent US entrepreneurship.&rdquo;&nbsp;

&nbsp;

A conscious effort promoting &lsquo;innovation&rsquo; is what we need to sustain our economic growth.

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

&nbsp;

India moved to 60th place in Global Innovation Index in 2017, six places up from its 66th rank in 2016 – it was still behind other Lower Middle-Income countries, including Mongolia and Vietnam.

With a favourable demography, vibrant democracy and open economy, India is well placed to benefit from a global wave of entrepreneurship. A report noted, new company registrations witnessed strong growth, from around 15K in 1980s to 100K in 2010s, which is a healthy sign for the Indian economy. Increased investment and funding, supportive government policies coupled with a relaxation in tax brackets are spearheading India’s StartUp ecosystem. A strong and ‘sustainable’ entrepreneurial culture is vital, as it supports ‘job creation’ in an economy where more than a million people enter the job market every month, i.e. 12 million a year. But what is most worrying is that Indian entrepreneurs are not innovating enough. Innovation is the most important pillar for ‘sustainability’ of entrepreneurial spirit. We have been successful in emulating innovative strategies and business plans, adopting it for Indian consumers and economy or at best making it affordable. Be it e-commerce, cab networking and aggregating, hospitality network, video streaming or for that matter food delivery – we have either adopted or adjusted ‘borrowed’ idea to make it a commercial success, but have very few to call our own innovation. What India needs from entrepreneurs is a real value addition to the economy. However, many such enterprises chose to repackage existing products or services, making them contribute little to the nation’s economy. As a result, fresh fruit juices available from street vendors is now available as a packed ‘hygienic’ preserved product or a mobile application to buy ‘fresh vegetables’ that were earlier available from a corner shop. And many of such ventures often result in ‘job replacement’ rather than ‘job creation’. It favours an organised enterprise over several small and independent unorganized sector elements, and contributes little to our economic output. A study by IBM Institute for Business Value and Oxford Economics noted that around 90% of Indian StartUps fail within five years, and the most common reason was ‘lack of innovation’. India moved to 60th place in Global Innovation Index in 2017, six places up from its 66th rank in 2016 – it was still behind other Lower Middle-Income countries, including Mongolia and Vietnam. While Upper Middle Income China was ranked far ahead at 22, ahead of several Higher Income European nations. India needs a more rational and sustainable StartUp ecosystem – where there is a clear distinction between an innovation, social impact venture and a ‘normal’ commercial venture. While there is no criticism of an ordinary commercial enterprise and its larger impact on the economy, there must be a clear rationale for the government on the type of entrepreneurial energy that needs support and public funding - along with a clear definition on ‘innovation’. We have been able to rationalise our fuel and education subsidies – now is the time to rationalise our support and public funding for our entrepreneurial enthusiasm. As a fellow Oxonian and Dean of Stanford Graduate School of Business, Jonathan Levin says, “India has many strengths: A large market for new businesses, a young population, a workforce that is increasingly educated and an entrepreneurial culture…all the characteristics that fuelled recent US entrepreneurship.” A conscious effort promoting ‘innovation’ is what we need to sustain our economic growth. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

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