India has ranked 66th in the Global Innovation Index (GII) 2013, an index that is published by Cornell University, INSEAD, World Intellectual Property Organization (WIPO) and the Confederation of Indian Industry (CII) as a knowledge partner.
The study ranked 142 economies across the world on their innovation capacity and efficiency.
This year’s report casts additional light on the local dynamics of innovation, an area which has remained under-measured globally. It shows the emergence of original innovation eco-systems, and signals a needed shift from the usual tendency to try and duplicate previously successful initiatives, CII said in a statement.
“The local dynamics of innovation varies across the globe and influences innovation measurement . Learning from the local innovation systems adds newer dimensions to existing measurement approaches . The focus of this year’s GII makes it a valuable guide for the policy makers to develop specific strategies relevant to their local innovation eco-system,” said CII Director General Chandrajit Banerjee.
India ranked 1st in the Central and South Asia region followed by Kazakhstan and Sri Lanka, and 11th overall in innovation efficiency ratio. (Innovation efficiency reflects the innovation output per unit of innovation input in the economy).
India ranked poor in areas such as political stability (rank 123), ease of starting business (rank 128) knowledge absorption (rank 122) among others. As per the report, despite the economic crisis, innovation is alive and well.