India ranked 66th in list of most innovative economies on Global Innovation Index
Q. India has been ranked at which place in the list of innovative economies according to UN WIPO Global Innovation Index 2016?- Published on 19 Aug 16
India has been ranked 66th in the list of world’s most innovative economies.
- It has moved 15 places from the year 2015 as per a new UN report that calls for more more transparent policies if the country aims to be a global innovator.
- In a report by the UN World Intellectual Property Organisation, India moved up from 81 to 66 in the overall global rankings.
- Global Innovation Index 2016 released by the WIPO, Cornell University and INSEAD business school has ranked India among the top 50 economies overall in two pillars namely market sophistication (33) and knowledge and technology outputs (43).
- India maintained a stable or improved ranking across all pillars with the most significant improvement in human capital and research up by 40 spots and business sophistication up 59 spots.
- Within human capital and research, India’s data coverage increased with respect of graduates in science and engineering stream ranked eighth overall this year.
- India’s ranking in the business sophistication pillar is impacted by substantial improvement in knowledge workers up 46 spots and knowledge absorption up 33 spots
- India also improved in ranking of firms offering formal training by as much as 56 spots to reach rank 42.
- India improved access across all indicators within the knowledge absorption pillar and metamorphosed it into a solid ranking in the Global Innovation Index’s newly incorporated research talent in business enterprise where it is ranked 31st.
- India ranked 117th in business environment and 118th in education , indicating it can improve the ease of starting business and pupil teacher ratio.