Pakistan has succeeded to fetch the 99th position among the 132 by the World Intellectual Property Organization, a dedicated UN agency, in the Global Innovation Index 2021 rankings.
The index trusts on 81 distinct indicators and categorizes world economies rendering to their groundbreaking capacity.
While chasing the most latest universal innovation trends in the new Global Innovation Tracker, this version also emphasizes the influence of the COVID-19 epidemic on the invention.
“The GII’s overall formula for measuring an economy’s innovative capacity and output provides clarity for decision-makers in government, business, and elsewhere as they look forward to creating policies that enable their people to invent and create more efficiently,” it said in a statement.
Read more: Pakistan rises 8 places in this year’s Global Innovation Rankings
In the 2021 ranking, Pakistan flew eight places as it stood at 107 in 2020.
“Pakistan ranks 17th among the 34 lower-middle-income group economies,” the GII report said. “Pakistan ranks 7th among the 10 economies in Central and Southern Asia.”
Moreover, the publication said Pakistan has achieved beyond the lower-middle-income group average in four columns, namely: business sophistication, institutions, knowledge and technology outputs, and creative outputs. While, in Central and Southern Asia, Pakistan accomplished above the regional average in the same four pillars, as stated by the news.
The reports claim indicates the country’s low literacy rate and lack of significant investment in innovation in the form of research and development and education.
Pakistan expenditure on education is nearly 2.9 percent of its GDP. It has the lowest literacy rate in the South and overall Asia. The country’s literacy rate is 62.3 percent while the female literacy rate is even lower at 51.7 percent.
