Global Innovation Index 2023

Global Innovation Index 2023

This topic is related to IAS/PCS Prelims Exam Current Affairs Global Innovation Index and Main Exam General Studies Paper-3 Indian Economy.

September 30, 2023

In News:

  • Recently, Global Innovation Index 2023 has been released by the World Intellectual Property Organization.

Global Innovation Index 2023 Highlights:

key points:

  • The Global Innovation Index 2023 report is based on the identification of an increasingly uncertain outlook for venture capital that helps transform human talent into new products and services.
  • Switzerland, Sweden, the United States, the United Kingdom and Singapore are the world's most innovative economies in 2023, according to WIPO's Global Innovation Index 2023.
  • Middle-income economies have grown rapidly in the last decade.
  • In this ranking, China features as the only middle-income economy in the GII top 30.
  • China is at 12th place in this list, followed by Japan at 13th place.
  • In this ranking, Denmark (9th), Sweden (2nd) is at position.
  • Whereas the Baltic countries Estonia is at 16th, Lithuania at 34th and Latvia at 37th.
  • Israel is ranked 14th.
  • Over the past 10 years, Indonesia has been in the middle group along with China (61st), Turkey (39th), India (40th), Vietnam (46th), Philippines (56th) and the Islamic Republic of Iran (62nd).

What is India's rank:

  • According to this report, India has been ranked 40th among 132 economies of the world.
  • India was at the same rank last year as well.
  • Responding to this report, NITI Aayog said that India has been growing rapidly in this index for the last several years.
  • India has dropped from 81st position in 2015 to 40th position this year.
  • Currently, India spends only 0.7 percent of its GDP on research and development, while the US spends 2.8 percent and China spends 2.1 percent.

List of world's 10 most innovative economies:

Rank (2023)

Country

Rank (2022)

1

Switzerland

1

2

Sweden

3

3

United states

2

4

United Kingdom

4

5

Singapore

7

6

Finland

9

7

Netherlands

5

8

Germany

8

9

Denmark

10

10

Republic of Korea

6

 

About World Intellectual Property Organization (WIPO):

  • The organization provides a global platform for intellectual property (IP) services, policy, information and cooperation.
  • This organization was established on 14 July 1967.
  • At Present, the headquarters of this organization is in Geneva, Switzerland.
  • Currently, the Director General of this organization is Darren Tang.
  • It is a self-financing agency of the United Nations with 193 member states.
  • Its objective is to lead the development of a balanced and effective international intellectual property system.
  • This organization enables innovation and creativity for the benefit of all countries.
  • India became a member of this organization in 1975.
  • World Intellectual Property Day is celebrated every year on 26 April.
  • Theme of World Intellectual Property Day 2023 – ‘Women and IP’: Accelerating innovation and creativity.

Major schemes of Government of India towards innovation:

Smart India Hackathon (SIH):

  • This program was started in the year 2017.
  • This program has been started to realize the dream of Digital India and directly connect the youth with the work of nation building.

Atal Innovation Mission (AIM):

  • This mission was announced in the budget speech of the year 2015
  • Run by NITI Aayog, the main objective of this program is to encourage community innovation in less developed areas of the country.

Innovation in Science Pursuit for Inspired Research(INSPIRE):

  • Under this programme, efforts are made to provide opportunities to talented students in science.

Ramanujan Fellowship:

  • This fellowship/fellowship provides attractive options and opportunities to potential Indian researchers living abroad to work in Indian institutions/universities in all fields of science, engineering and medicine.

Kiran Scheme:

  • The full name of this scheme run by the Union Ministry of Science and Technology is ‘Knowledge Involvement in Research Advancement through Nurturing’.
  • The main objective of this scheme is to address various issues/challenges related to gender equality in science and technology sector.

Biotechnology Ignition Grant (BIG) Scheme:

  • It is a program related to financing start-ups.
  • Its main objective is to promote the generation of ideas with commercialization potential.

Future Skills Prime (PRIME):

  • It is a program for reskilling and upskilling of employment in the field of information technology. It is an initiative of NASSCOM and the Ministry of Electronics and Information Technology.

STARS Project:

  • STARS Project will be implemented as an innovative Centrally Sponsored Scheme under the Department of School Education and Literacy, Ministry of Education.

SPARC Initiative:

  • The Government of India had approved the ‘Scheme for Promotion of Academic and Research Collaboration (SPARK)’ under the supervision of IIT Kharagpur in August 2018.
  • The objective of this initiative is to improve the research landscape in higher educational institutions of India by facilitating academic and research collaboration between Indian institutions and the best institutions of the world.

IMPRESS Program:

  • The Central Government had approved the ‘Impacted Policy Research in Social Sciences’ program (IMPRESS) in 2018.
  • The main objective of this program is to support social science research in higher education institutions and undertake research projects for policy making.

National Mission on Multidisciplinary Cyber-Physical Systems (NM-ICPS):

  • This mission was launched in 2018 by the Ministry of Science and Technology for a period of five years.
  • The main objective of this mission is to encourage innovation in new age technologies.

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Mains Exam Question

Mention the major achievements and initiatives of the Government of India in the innovation sector.