For a country aspiring to global economic leadership, the 2014 Global Innovation Index (GII) brings bad news for India. For the Index saw the country drop 10 places compared to last year. The Index — published by Cornell University, INSEAD, and the World Intellectual Property Organisation (WIPO) — measures innovation. If the measure provided by the Index is anything to go by, then India ought to close its innovation gap. This is crucial if it is to prosper as it can and should. The world’s top economies are driven by innovation, and India is falling behind. An important part of bridging the innovation gap is for India to improve its intellectual property systems.
Image: India’s R&D spending remains low when compared to most other countries that aspire to economic leadership. Picture shows the research laboratory of a private pharmaceutical firm in Mumbai. Photo: Reuters
