Global Innovation Index 2022

Context

India has climbed to the 40th rank in the recently launched Global Innovation Index of the World Intellectual Property Organization.

The index reveals that "a progressive eastward shift in the locus of innovation" is underway, with several Asian economies climbing the rankings.
The top five countries: Switzerland, Sweden, the United States, the United Kingdom, and the Republic of Korea are the top five countries in the GII.
India’s Ranking: India has gone up from 46th rank in 2021 to 40th rank in 2022.

India has consistently improved its innovation ranking over the last five years, making it one of the Central and Southern Asian innovators.

The most progress Nations in Asian economies: China, India, the Philippines, and Vietnam are the Asian economies that have made the most progress on the index in recent years, with all four currently ranking in the top 50.

Global Innovation Index is a marker of innovative progress for 132 countries worldwide.

Each year, 132 countries compete to bag the top position in GII to indicate their innovation-driven growth.

This ranking is conducted annually by the World Intellectual Property Organization.

Through this ranking, governments can determine the pace of progress in their respective countries.

The Global Innovation Index ranking was started by INSEAD and World Business in 2007.
GII has around 80 indicators, which are used to determine where a country stands in terms of innovation.

Some of these indicators include education, politics, corporate sophistication, infrastructure, human resource, etc.

It is the global body for promotion and protection of intellectual property rights (IPR).
It is one of the 17 specialized agencies of the United Nations.
Founded in 1967 with its headquarters in Geneva, Switzerland.
WIPO is the world’s center for information, cooperation, and intellectual property (IP) services.
It aims to encourage creative activity, to promote the protection of intellectual property throughout the world.
With 193 member states, WIPO is a self-supporting organisation of the UN.

India is a member of WIPO and party to several treaties administered by WIPO.
It encourages and provides assistance to all its 188 member countries in formulating national IPR policy however it does not dictate or prescribe any mandatory measures.