|Image taken from here|
The ‘decade of innovation‘ 2011-2020, seems to have not taken off on a great start if the Global Innovation Index (GII) 2011 edition is anything to go by. The GII ranked India 62nd out of 125 economies measured for innovation levels, marking a continual decline since the Index started in 2009 – India was 56 in 2010, and 41 in 2009. Switzerland topped this year’s list followed by Sweden and Singapore, while China was the highest ‘lower-middle’ income country at rank 29. Amongst the ‘low-income’ countries, Ghana tops at rank 70.
The Report, which is available here, was prepared by INSEAD, a leading international business school, along with Alcatel-Lucent, Booz & Company, the Confederation of Indian Industry (CII), and the World Intellectual Property Organization (WIPO).
For the innovation index, an innovation efficiency index was used. This was prepared by measuring innovation input against innovation output. The innovation input included factors such as institutions, human capital and research, infrastructure, market sophistication and business sophistication, while the innovation output included scientific output and creative output. Interestingly, when these indices are separated, India is ranked 44 on output, and a distant 87 on input.
While India may not have done well on the innovation index, the report has dedicated a full chapter on innovations in India with a focus on the affordability – based progress that innovations and adaptations are making in India. While it points out some achievements that have been made in the innovation eco-system in India, the report also points out a big gap – weak value generation and low scale-up. It also interestingly, and probably rightly mentions that our education system, aside from encouraging rote learning, also generates a fear of failing, and which thus leads to a lack of experimentation and ideation. (3 idiots, anyone?)
The report has some valuable suggestions and comments on the innovation eco-system in India, and it certainly has some good steps for us to take as we continue into our ‘decade of innovation’.
More from my site
Tags: Global Innovation Index