Mumbai: The government and companies around the world increase investment in innovation amid the Covid-19 pandemic, with India shown in the top 50, among the top innovator groupings.
India in the 46th position has risen with two points (48th in GII 2020), after making it 50 big last year, the global innovation index said 2021.
In the world’s annual economic ranking on innovation and output capacity, GII shows countries High income continues to dominate the ranks, while several medium-income economies, including China, Turkey, Vietnam and India catch up.
Scientific output, expenditure in research and development (R & D), submission of intellectual property and venture capital transactions continues to grow by 2020, build strong pre-crisis performance.
India has also been described as successful developing advanced services that technology dynamically and can be traded internationally, a statement from the organization of the World Intellectual Property.
It continues to lead the world in the export indicator of ICT services, and accommodates the top rankings in other indicators, such as diversification of domestic industries and graduates in science and engineering.
Companies with output include software technology, internet and communication, hardware and pharmaceutical and biotechnology, strengthen their investment in innovation and R & D, the statement is added.
Conversely, companies in sectors that are very exposed to pandemic detention steps reduce their expenses, trackers show.
Significantly, this indicates that the advancement of technology on the border holds a big promise, with the rapid development of the Covid-19 vaccine to be the biggest example.
“GII shows that even though developing countries often find it difficult to continue to improve their innovation system, some medium-income economies have succeeded in pursuing innovation with their more advanced colleagues,” said the former Dean and Professor of Management, Cornell University, Soumitra Dutta.
“This emerging economy, among others, has succeeded in completing their domestic innovation by transferring international technology, developing dynamic technology services that can be traded internationally, and ultimately have formed a more balanced innovation system.”