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India's declining innovation performance as compared to other countries is crying out for timely policy intervention by the government.

Published Tue, Mar 3, 2015 · 09:50 PM
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GOES the oft-quoted maxim: "You can't manage what you can't measure." Governments and institutions have often taken this adage to heart. Leveraging improved data collection technologies and captivated by numerous competitiveness rankings, governments have made a Taylorist pivot in promoting economic growth: measure, rank, repeat. The push for global visibility, as often embodied in such rankings, has led countries to focus on conveniently measurable dimensions of development. Among the less conveniently measurable is innovation, which is increasingly seen as a critical indicator of growth potential.

The yearly Global Innovation Index (GII) is in its seventh edition. Declaring itself the "leading reference" on innovation among comparative indices, the GII is a collaborative effort by Cornell University, INSEAD, and the United Nation's World Intellectual Property Organisation (Wipo). It adopts a broad view of innovation, measuring seven analytical pillars covering capabilities (inputs) and results (outputs). Capabilities in the 2014 edition include institutional conditions, infrastructure and market sophistication. Results include knowledge and technology outputs, and creative outputs.

The GII has undergone several rounds of revision. Since its debut in 2007, it has witnessed significant turmoil in the global economic and social environments, along with unprecedented scientific and technological advances, and an increased role for entrepreneurial initiative in innovation. The general themes of each GII report, and associated metrics, reflect the prevailing trends of the moment.

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