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16Th Aug 2016
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| Indian Office (The Total Investment & Insurance
Solutions) |
India has been ranked the world's
top exporter of information and communication technology in a UN agency report
that recommended that the country leverage this lead to innovate in emerging
areas where biology and materials sciences intersect with computing.
Overall, India leapt 14 places from
the 85th rank last year to the 61st in the latest Global Innovation Index (GII)
released in Geneva by the World Intellectual Property Organisation (WIPO) in
partnership with the Confederation of Indian Industry (CII) on Monday.
India ranked 8th in the world for
producing graduates in science and engineering and showed the most significant
improvements in human capital and research moving up 40 places to 63.
WIPO, a specialised agency of the
UN, worked also with Cornell University and INSEAD, the international business
school, to prepare the ninth edition of the index.
In a nod to India's
"jugaad" tradition of innovation, the report said that its culture of
"frugality and sustainability" can help it capture global
markets.
"For this to happen, however,
India's industries need to have the hunger to be at the top of the value chain,
its customers have to be more demanding, its policies have to be more
transparent, and its talent pool has to get more hands-on experience while
simultaneously growing to leverage the global talent pool," the report
said.
WIPO quoted CII Director General
Chandrajit Banerjee as saying: "The commitment of India to innovation and
improved innovation metrics is strong and growing, helping to improve the
innovation environment. This trend will help gradually lift India closer to
other top-ranked innovation economies." The Total Investment
& Insurance Solutions
Areas where India is lagging include
the business environment, where it is ranked 117, and education at the 118th
spot.
To leapfrog into the emerging areas
that combine biology, computing and material sciences, the report recommended
that the industry double its research and development (R&D) investment and
the government provide R&D grants to industry.
"Investing in innovation is
critical to raising long-term economic growth," WIPO Director-General
Francis Gurry said while presenting the report. "In this current economic
climate, uncovering new sources of growth and leveraging the opportunities
raised by global innovation are priorities for all stakeholders." The Total Investment
& Insurance Solutions
Another recommendation was to
developing the research capabilities of universities. "Industry and
government should team up with universities to create meaningful graduate
research programmes utilizing global collaboration models where
appropriate," the report said.
In these emerging fields, the report
said: "Applications include developing sustainable fuels for
transportation, predicting and preventing disease, determining ways to improve
wellness, and delivering better nutrition" - areas that meet immediate
needs of India.
The report cited the US-India
Strategic and Commercial Dialogue as initiatives that had the potential for
bilateral funding of R&D. The Total Investment & Insurance
Solutions
Among innovators in India measured
by the number of patents obtained in the last five years, Infosys led with 281;
it was followed by TCS with 244, Ranbaxy 196, Wockhardt 160, and SunPharma 84. The Total Investment
& Insurance Solutions
During this period, about 2,000
patents received by GE had Indian inventors, the report said. IBM came next
with Indians involved in nearly 1,900 patents.
Overall, Switzerland ranked first
globally as the most innovative economy on the index. It was followed by
Sweden, Britain, the United States, Finland and Singapore. China for the first
time muscled its way into the ranks of the top 25, just landing the spot.The Total Investment
& Insurance Solutions
