GLOBAL INNOVATION INDEX OF WIPO

ChinmayaIAS Academy - Current Affairs September 30, 2022 GS3 Leave a comment 248 Views

The Prime Minister, Shri Narendra Modi has expressed pride for Indian Innovators as India climbs to the 40th rank in the Global Innovation Index of World Intellectual Property Organization (WIPO).
“Innovation is the buzzword across India. Proud of our innovators. We’ve come a long way and want to scale even newer heights.”
India climbs to the 40th rank in the Global Innovation Index of WIPO; a huge leap of 41 places in 7 years
India today aspires to take our ranking in the GII Index to the top 25.
GII has established itself as a tool for Governments across the world to reflect upon policies and their impact.
GII has over the years recognized India’s continuous rise due to the progressive measures taken by the government and industry working hand in hand”,
Innovation has been a catalytic force for the economy and society.
Though innovation implies novelty, it is also rooted in tradition for us in India. Ancient scientific knowledge including the Vedas and traditional medicine are a testament to India’s innovative spirit”, he added.
India had established the first of its kind Global Centre for Traditional Medicines in collaboration with the WHO, representing India’s ancient scientific prowess.

The importance of the ‘knowledge economy’ grows, innovation will lay the roadmap for development in India.
The Minister noted that agility, enthusiasm and energy of our youth are powering the start-up ecosystem.
India today the 3rd largest start-up ecosystem and is home to over a 100 unicorns. “Start up revolution has spread across India. Over half the start-ups are from remote small towns
Shri Goyal opined that incubation, handholding, funding, industry-academia partnership and mentorship have stirred entrepreneurial spirit across the country.
He said that India had embarked on the ‘Digital India’ journey in 2015 and have set up a goal of a trillion-dollar digital economy in the next few years.
“Digitization of Government initiatives and public services has been our continuous focus”, he observed.
There several areas in which digital technologies are employed from mapping capital assets using GIS technology to revolutionizing payments through UPI.
In fact, 40% of global real-time digital transactions happened in India last year.To further strengthen innovation, we have introduced the National Education Policy, which promotes the spirit of enquiry by setting up incubation & technology development centers.
With over 9000 Atal Tinkering Labs, we encourage youth to develop solutions to society’s problems.
India has taken up structural reforms to strengthen its IPR regime including modernization of IP office, reducing legal compliances and facilitating IP filing for start-ups, women entrepreneurs, the small industries and others.
“Domestic filing of Patents registered a 46% growth in the last 5 years. We are now transitioning to a knowledge-based economy”