KARACHI:
The Global Innovation Index (GII) ranks Pakistan 99th out of 132 economies in 2021. The score of Pakistan is 24.4.
This ranking relies on 81 different indicators clubbed under seven pillars. One of the pillars is human capital and research, and Pakistan’s rank in this is 117.
Innovation capability also means having the ability to exploit new technologies. This includes abilities of countries to facilitate innovation activities, and the output of these activities.
Innovation can lead to sustainable economic growth, which can help countries to achieve higher levels of performance and wellbeing for their citizens.
Amongst the top three are Switzerland, Sweden and USA. Among regional partners, Vietnam is at 44, India at 46, and Iran at 60. India ranks second amongst the lower middle-income group of economies and first in Central and South Asia.
Although evidence shows that there is a strong relationship between economic development of a country and innovation, India and Vietnam amongst a few others have demonstrated that this relationship is not necessarily always true.
India’s innovation performance is above average for the upper middle-income group. So what has made Pakistan to show not-so-impressive performance?
Pakistan has not been able to make significant investment in innovation in the form of R&D, education and solid infrastructure and institution-supporting innovative activities.
Although the business environment has improved, the regulatory framework is...
Read Full Story: https://tribune.com.pk/story/2335751/innovation-deficiency-in-pakistan
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