India ranks 66th in 2016 Global Innovation Index

India has ranked 66th in the 2016 Global Innovation Index (GII). In this edition, India has jumped up by 15 spots from 81st position in 2015 GII.
The annual index was released by France-based international business school INSEAD and World Intellectual Property Organisation (WIPO), a specialized agency of the United Nations.
The index ranks world economies since 2007 according to their innovation capabilities using more than 80 indicators.
Key Facts

• India’s better performance in the 2016 GII readings was due to its strengths in tertiary education, corporate R&D, software export and market sophistication.
• India has starting to excel in ICT and creative goods exports. It is setting a good example highlighting how its policy is improving the innovation environment.
• Among the middle income countries, India (25th) came second after China (17th) in innovation quality by overtaking Brazil (27th).
• China has figured at the 25th position (29th in 2015 GII) is the only middle-income country in the top 25.

Image Source: Economics Times

Month: Current Affairs - August, 2016