Global Innovation Index 2022: Key Facts
The World Intellectual Property Organization (WIPO) released the Global Innovation Index (GII) 2022 on 30 September 2022.
Switzerland topped the Global Innovation Index for the 12th year in a row. This innovation especially leads the world in patent by origin, software cost, high technical manufacturing and production as well as export complexity.
The United States was in second place. It was followed by Sweden, the United Kingdom and the Netherlands.
The ranking of the most innovative economies takes into account infrastructure and technology output, human and capital research, business sophistication, etc.
India's performance in GII:
- India has joined the top 40 economies of the world among 132 countries, up 6 places from the previous year.
- India has topped the list of 36 lower middle income economies.
- According to GII 2022, Turkey and India have featured in the top 40 countries for the first time. India was ranked 46th in the year 2021.
- India is the top performer among South Asian countries.
What is Global Innovation Index (GII):
The Global Innovation Index is an annual ranking of countries based on their potential for innovation and success. The index was started in 2007 by INSEAD and World Business, a British magazine that publishes a measure of the ranking of countries. It was created by Professor Soumitra Dutta. The GII rank is based on 81 indicators.
Currently, it examines the most recent trends in global innovation in the backdrop of the COVID-19 pandemic, sluggish productivity growth and other shifting problems. By assessing the innovation performance of approximately 132 economies and identifying both innovation strengths and weaknesses, it highlights the most innovative economies around the world.
What is the World Intellectual Property Organization (WIPO):
The World Intellectual Property Organization (WIPO) was established in the year 1967 by the WIPO Convention with its headquarters in Geneva, Switzerland. As its name suggests, it measures the ranking of intellectual property and development of all countries of the world. The current Director General of the World Intellectual Property Organization (WIPO) is Darren Tang (Singapore).
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