Commerce & Industry Minister to Launch GII on July 24, 2019

Speed Post News Network

New Delhi : Union Commerce & Industry and Railways Minister Piyush Goyal will launch the Global Innovation Index (GII) on July 24, 2019 in New Delhi. Director General, World Intellectual Property Organisation, Francis Gurry, will also be present at  the event.

The launch of GII will reveal the innovation rankings of economies and the findings for this year. It will be the 12th edition of GII with 129 countries under its observation. The GII measures how innovation friendly the environment of global economies are based on 80 detailed metrics.

The GII operates with a theme every year to track global innovation. This year’s theme is “Evaluating the Medical Innovation Scenario of the Next Decade”. It aims to highlight the role and dynamics of medical innovation to understand how it can form the future of healthcare and the potential impact this may have on economic growth.

The Global Innovation Index has been a charter for assessing the innovation capabilities of national economies worldwide. The initiative to understand how countries facilitate innovation was espoused by INSEAD and World Business in 2007. Since its genesis the GII has become a credible authority on providing insight into the multi-dimensional aspects of innovation-driven growth.

On July 24, 2019, there will be two panel discussions on subjects ‘Asia: The future hub of Innovation’ and ‘Creating Healthy Lives – The Future of Medical Innovation’. There will also be a special session on India’s R&D Expenditure Ecosystem which will be addressed by Carsten Fink, Chief Economist of World Intellectual Property Organisation, B N Satpathy, Member of Economic Advisory Council to the Prime Minister (PMEAC), and Prof. K Vijay Raghavan, Principal Scientific Advisor to Government of India. Ratan P Watal, Principal Adviser, NITI Aayog and Member Secretary, PMEAC, will release India’s R&D Expenditure Ecosystem report, according to a PIB release.

Secretary Department for Promotion of Industry & Internal Trade, Ramesh Abhishek, will deliver the special address during the launch of the Global Innovation Index 2019.