The Global Innovation Index (GII) has recently released its innovation rankings of various economies, in New Delhi on 24-07-2019. India has shot-up five places to improve its position from 57th in 2018 to 52nd in 2019, whereas, Switzerland has bagged the first place in the GII Index.
GII is said to be a leading reference on innovation, as over the years, it has been indicating the innovation capabilities and results of developed and emerging economies across the world. The GII determines the rankings based on various criteria such as (1) institutions, (2) human capital and research, (3) infrastructure, (4) market sophistication, and (5) business sophistication (6) knowledge and technology outputs and (7) creative outputs.
Various knowledge partners have collaborated with GII including the Confederation of Indian Industry (CII), believing in the role of innovation in increasing the competitiveness of nations, economic growth, etc.
The Union Minister of Commerce and Industry and Railways, Shri Piyush Goyal, congratulated all those who were involved in the process of innovation and further stated that India aims at positioning itself among the top 25 countries of the GII Index. Thus, he has urged the research and development (R&D) institutions, universities, private sector and the World Intellectual Property Organization (WIPO) to provide innovative solutions to tackle various issues such as pollution, water crisis, depleting natural resources, climate change, food wastage, healthcare, etc that are prevalent in the country.
These continued and innovative efforts to resolve various issues predominant in the country would help to improve the quality and standard of living of people of the country and also help in transformation of the country into a hub of innovation.
Senior Legal Associate
The Indian Lawyer