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India ranked second in Global Innovation Efficiency Index

Category: Others,  News Source: The Times of India,  Updated-On: Jul 4 2012

New Delhi: India takes the second spot in the Global Innovation Efficiency Index, a metric to assess the innovation landscape in different countries. INSEAD and the World Intellectual Property Organization (WIPO) published a report titled 'Stronger Innovation Linkages for Global Growth' which benchmarks the performance of different countries in addressing the gaps in the innovation cycle by developing products and services for emerging markets. The report ranks 141 countries/economies on the basis of their innovation capabilities and results.

Chandrajit Banerjee, director-general, CII said, "Every country can aspire to be an innovation-driven economy. The more resource-constrained an economy is, the more prone to innovation it actually can be. Importantly, innovation is about acts, which improve everyday lives and a journey towards faster-sustainable-inclusive-growth."

However, Per-Ola Karlsson, senior partner, managing director of Europe, Booz & Company, said developed economies must continue to strengthen and develop linkages among stakeholders in the innovation landscape to stay ahead in strategic sectors. "By aligning cross-cutting policies and co-ordinating the efforts of all stakeholders, these coherent linkages drive the innovation process," he added.

The Innovation Input Index, the sub-index of the efficiency index, is evaluated on key parameters including human capital and research, institutions and infrastructure. While the output index captures actual evidence of innovation results and knowledge and technology outputs.

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