- WIPO was created to promote and protect intellectual property(IP) across the world
- By cooperating with countries as well as international organizations.
About Global Innovation Index
- The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation.
- The index, compiled by the World Intellectual Property Organization (WIPO), along with Cornell University and the INSEAD Business School.
- The 2020 edition presents the latest global innovation trends and the annual innovation ranking of 131 economies.
- India increased the most in three pillars:
- Institutions (61, from 77 in 2019),
- Business sophistication (55, from 65 in 2019),
- Creative outputs (64, from 78 in 2019), it noted.
- India also bettered its rank in both Intellectual property payments (27, from 29 in 2019) and research talent (38, from 46 in 2019).
- However, India continued to lag in infrastructure, even as it moved up four notches to come in at 75, from 79 in 2019.
- Also, it lost seven places to move down to 60 in human capital and research, from 53 in 2019.
How much India spent on Innovation?
- Gross domestic expenditure on research and development (GERD) in India increased to $63.2 billion in 2017–2018, from $50.3 billion in 2014–2015, Accounting for 2.9-per cent share in the world.
- GERD in India is mainly driven by the government sector, Of which 45.4% is the central government, 6.4% state governments, 6.8% higher education, and 41.4% industry.
- The GII report could be India’s one-stop reference to plan and accelerate our journey towards the future we imagine for our people.
- The govt should discuss it with others, and consider ways we can improve as individual nations and as a global community.