New Delhi: Continuing a declining trend, India dropped two places from its last year’s position of 64 to 66 this year on the Global Innovation Index (GII) 2013. The index ranks 142 countries across the world on their innovation capacity and efficiency and is published by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) and Confederation of Indian Industry (CII).
According to the findings of this year’s edition, India fared relatively better on criteria such as gross capital formation (as a percentage of gross domestic product, or GDP) (rank 9), investment in new business (rank 20), industrial cluster development (rank 29), growth rate as a percentage of PPP GDP/worker (rank 14), computer and information services exports (rank 1), creative goods exports (rank 11).
However its low ranking in parameters such as political stability (rank 123), ease of starting business (rank 128), school life expectancy (rank 109), pupil-teacher ratio (rank 108) and knowledge absorption (rank 122) was instrumental in its downward journey.
This year’s toppers in the GII were Switzerland and Sweden’s followed by the UK, the Netherlands and the US in that order performance. These countries were among the top 10 last year too.
The GII 2013 is calculated as average of two sub-indices. The Innovation Input Sub-Index weighs key factors that contribute to a country’s economy such as its institutions, human capital and research output, infrastructure, market sophistication, and business sophistication. The Innovation Output Sub-Index captures actual evidence of innovation results based on knowledge and technology outputs and creative outputs.