India is an emerging innovation center in Asia, according to the Global Innovation Index 2017 co-authored by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
The study, topped by Switzerland, Sweden, the Netherlands, the USA and the UK, also highlighted that next to Asia’s innovation powerhouses such as China, Japan, and the Republic of Korea, a group of Asian economies including Indonesia, Malaysia, Singapore, Thailand, the Philippines and Vietnam are actively working to improve their innovation ecosystems and rank high in a number of important indicators related to education, R&D, productivity growth, high-tech exports, among others.
The Republic of Korea maintains its top overall rankings in patenting and other IP-related indicators, while ranking second in human capital and research, with its business sector contributing significantly to R&D efforts.
Japan, ranked third in the region, is in the top 10 global economies for research and development, information and communication technologies, trade, competition, market scale, knowledge absorption, creation, and diffusion.
China continues moving ahead
China continues moving ahead in the overall GII ranking (22nd overall this year), reflecting high scores in business sophistication and knowledge and technology outputs. China this year displays a strong performance in several indicators, including the presence of global R&D companies, research talent in business enterprise, patent applications and other IP‐related variables.
Within the Association of East Asian Nations (ASEAN) grouping, Singapore is the top performer in most of the indicators, with a few notable exceptions: ICT services exports, where the Philippines leads, and expenditure on education, where Vietnam leads.
Thailand’s strengths include creative goods exports and gross domestic expenditure on R&D (GERD) financed by business, where it places 5th and 6th globally.
India shows improvement in most areas
India, 60th globally, is the top-ranked economy in Central and Southern Asia and has now outperformed on innovation relative to its GDP per capita for seven years in a row. India has shown improvement in most areas, including in infrastructure, business sophistication, knowledge and technology and creative outputs.
India ranks 14th overall in the presence of global R&D companies, considerably better than comparable groups of lower- and upper-middle-income economies. India also surpasses most other middle-income economies in science and engineering graduates, gross capital formation, GERD performed by business, research talent, on the input side; quality of scientific publications, growth rate of GDP per worker, high-tech and ICT services exports, creative goods exports, high-tech manufactures, and IP receipts on the output side.
“Public policy plays a pivotal role in creating an enabling environment conducive to innovation. In the last two years, we have seen important activities around the GII in India like the formation of India’s high-level Task Force on Innovation and consultative exercises on both innovation policy and better innovation metrics,” said Chandrajit Banerjee, Director General, Confederation of Indian Industry.