India calls on rightful place for BRICS in Global Innovation Index
Minister of Science and Technology, Dr Jitendra Singh, chaired the 9th BRICS Science and Technology Meet on November 26, 2021.
Highlights
- During the meeting, minister called for BRICS countries to come together and innovate cost-effective, sustainable, affordable, accessible, and scalable scientific solutions, because they face similar and unique challenges.
- He further called for working towards rightful place for BRICS countries, in the Global Innovation Index.
- According to him, this can be made possible by further strengthening cooperation in the fields of Science, Technology & Innovation.
Global Innovation Index (GII)
GII is an annual ranking of countries by their capacity and success in innovation. The index is published by the World Intellectual Property Organization, in association with INSEAD, Cornell University, and other organisations and institutions. It is prepared on the basis of both subjective and objective data fetched from sources like International Telecommunication Union, World Bank and World Economic Forum. It was first published in 2007 by INSEAD and World Business magazine.
How is index computed?
GII is computed by taking the average of scores in two sub-indices namely, Innovation Input Index and Innovation Output Index. Innovation Input Index is composed of five pillars while Innovation Output Index have two pillars. Each of these pillars describe a credit of innovation. Their score is calculated by weighted average method.
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Month: Current Affairs - November, 2021