The Global Innovation Index 2022 was released recently by World Intellectual Property Organization (WIPO).

·      Switzerland topped the Global Innovation Index for the 12th consecutive year. It leads the world in innovation outputs and specifically in patents by origin, software spending, high-tech manufacturing and production as well as export complexity.

·      The second position was held by the United States, followed by Sweden, the United Kingdom and the Netherlands.

·      The ranking of the most innovative economies takes into consideration infrastructure and technology outputs, human and capital research, business sophistication etc.

·      India has climbed 6 positions to 40th rank in the GII due to improvements in several parameters.

·      India’s performance is above average among the upper middle-income countries group in almost all innovation pillars, with exception to infrastructure, where the country scored below average.

·      India is the top performer among the South Asian countries.

·      It is the innovation leader in the lower middle-income group and it continues to lead the world in the information and communication technology (ICT) services exports.

·      It is the top performer in indicators like venture capital receipt value, finance for startups and scaleups, graduates in science and engineering, labour productivity growth and domestic industry diversification.

·      According to the report, India and Turkiye entered the top 40 for the first time, with Turkiye being ranked at 37th position.

·      India has overtaken Vietnam (48th rank) as the top lower middle-income economy for innovation.

·      The index held that middle-income countries China, Turkiye and India are changing the innovation landscape and Iran and Indonesia have the potential to boost innovation.

·      China was ranked at 11th position in this index