Technology And Innovation Report 2021:
India was the biggest ‘overperformer’ in frontier technologies than the country’s per capita Gross Domestic Products (GDP) would suggest, according to a recent country-readiness index of the Technology And Innovation Report 2021.
- The report was released by the United Nations Conference on Trade and Development (UNCTAD).
- The report examines the likelihood of frontier technologies widening existing inequalities and creating new ones.
- It also addresses the national and international policies, instruments and institutional reforms that are needed to create a more equal world of opportunity for all, leaving no one behind.
- Frontier Tech Market: The report shows that frontier technologies already represent a USD 350 billion market, which could grow to USD 3.2 trillion by 2025.
- It calls for strengthened international cooperation to build innovation capacities in developing countries, facilitate technology transfer.
- Envisages increase women’s participation in digital sectors, conduct technological assessments, and promote an inclusive debate on the impact of frontier technologies on sustainable development.
- India’s actual index ranking is 43, while the estimated one based on per capita income is 108.
- This meant that India overperformed other countries by 65 ranking positions.
- India was followed by the Philippines, which overperformed by 57 ranking positions.
- India performed well in research and development.
- This is reflected in its abundant supplies of qualified and highly skilled human resources available at a comparatively low cost.
- However, countries such as the United States, Switzerland, and the United Kingdom were “best prepared” for frontier technologies.