R&D of emerging economies faster than developed nations:report

Emerging economies like India, China and Brazil have increased their R&D faster than developed countries but they have not been able to break into the top positions in global innovation, according to a report.
"Emerging markets have increased their R&D faster than high-income countries. Over the last five years, China, Argentina, Brazil, Poland, India, Russia, Turkey and South Africa have been at the forefront of this phenomenon," the Global Innovation Index (GII) 2013 released today, said.
"A group of dynamic middle and low-income countries - including India, China, Costa Rica and Senegal - are outpacing their peers, but haven't broken into the top of the GII 2013 leader board," the report added.

Published annually since 2007, GII has become a chief bench marking tool for business executives, policy makers and others seeking insight into the state of innovation around the world.
This year's study benefits from the experience of its Knowledge Partners: Booz & Company, the Confederation of Indian Industry (CII), du and Huawei, as well as of an advisory board of 14 international experts.
At a function held at the Cornell Club in Manhattan, Soumitra Dutta, Dean and Professor of Management at the Cornell University and co-editor of the GII 2013, released the report.

The GII 2013 looked at 142 economies around the world, using 84 indicators including the quality of top universities, availability of microfinance, venture capital deals - gauging both innovation capabilities and measurable results.

While the US rejoined the five most innovative nations in the list and the UK moved up the third spot, Switzerland retained its place atop the ranking.
The US continues to benefit from its strong education base especially in terms of top-rank universities and has seen strong increases in software spending and employment in knowledge-intensive services. The US was last in the GII top five in 2009, when it was number one, the report said.
By and large, Latin America is the region that has seen the most significant improvement in GII rankings, with Costa Rica taking the lead regional position.

Among the encouraging signs identified by GII 2013, 18 emerging economies are outperforming other countries in their respective income groups in order of distance: India, the Republic of Moldova, China, Uganda, Armenia, Vietnam, Malaysia, Jordan, Mongolia, Mali, Kenya, Senegal, Hungary, Georgia, Montenegro, Costa Rica, Tajikistan and Latvia.
The Global Innovation Index 2013 (GII), in its 6th edition this year, is co-published by Cornell University, INSEAD, and the World Intellectual Property Organisation (WIPO), a specialised agency of the United Nations).
David J Skorton, President of Cornell University, Francis Gurry director-general of WIPO and Teresa Stanek Rea, Deputy Under Secretary of Commerce (Intellectual Property) and Deputy Director of the US Patent and Trademark Office in Washington.