Global Innovation Index (GII) 2021

India has improved its ranking in the Global Innovation Index (GII) 2021 to 46th place among 132 economies, up from 48 in the previous year’s ranking, the World Intellectual Property Organization (WIPO) said on Monday.The index ranks world economies according to their innovation capabilities and consists of roughly 80 indicators. India’s ranking was at 52 in 2019.# Switzerland, Sweden, the US and the UK are the leaders in innovation.India ranks second among 34 lower middle-income group economies and first among the 10 economies in Central and Southern Asia. Relative to gross domestic product (GDP), India’s performance is above expectations for its level of development, WIPO said in a statement.Graduates in science and engineering disciplines and global corporate research and development investors are India’s strengths, WIPO said.WIPO’s criteria to measure innovation cover institutions, human capital and research, infrastructure, credit, investment, linkages, creation, absorption and diffusion of knowledge, and creative outputs.Federal policy think-tank NITI Aayog said on Monday that it, along with WIPO and industry body Confederation of Indian Industry (CII), would virtually launch the Global Innovation Index at a two-day event starting Tuesday.“Innovation has been at the forefront of our battle against the unprecedented crisis created by the pandemic, and will be pivotal in driving the country’s resilience and self-reliance,” the think tank said.