KARACHI: Pakistan’s success in capacity and business innovation has declined in 2020 and the country’s ranking on the Global Innovation Index (GII) has risen from 104 in 2019 to 107 in 2020.
According to the report, GII has been compiled by the Global Intellectual Property Organization, INSEAD Business School and Cornell University to track the country’s institutions, human capital and research, infrastructure, market and business distinction, knowledge and technology outcomes and Creates its annual rankings after reviewing innovations in creative outputs.
The report states that Pakistan’s ranking in terms of market segregation increased from 102 in 2019 to 116 in 2020 as the country’s ability to attract investment also weakened during the year.
The country’s human capital and research also declined during the year under review, and the report highlighted major weaknesses in GDP spending on education.
Meanwhile, the report said that the country’s overall infrastructure has also weakened during the year under review.
In addition to logistics performance and aggregate capital formation, access to information technology services is a major barrier to innovation, the report said.
On the other hand, through high technology imports, Pakistan’s position in terms of business sophistication has improved from 96 in 2019 to 87 in 2020.
Overall exports of information technology increased during the period under review, while creative results such as mobile app development also improved.
Among the South Asian countries, Pakistan was only better than Bangladesh at 116, while India (48), Nepal (95) and Sri Lanka (101) were ranked.