Page 291 - ES 2020-21_Volume-1-2 [28-01-21]

274 Economic Survey 2020-21 Volume 1

Figure 43: Innovation and Access to Debt Finance

Global Innovation Index 2020
0
US UK
GR
FR
CH
JP
20
GII - Rank IT
40
IN 48

60 BR
40 60 80 100 120 140 160
Access to Debt Finance - Domestic Bank Credit to Pvt. Sector (% of GDP)

Innovation Output Sub-Index 2020
0
US GR UK CH
FR JP
Innovation Output - Rank 40 IN 45
20
IT

60 BR
40 60 80 100 120 140 160
Access to Debt Finance - Domestic Bank Credit to Pvt. Sector (% of GDP)
Innovation Input Sub-Index 2020
0
US UK
GR FR JP
Innovation Input - Rank 40 IT CH
20

IN 57 BR
60
40 60 80 100 120 140 160
Access to Debt Finance - Domestic Bank Credit to Pvt. Sector (% of GDP)
Note: Highest possible rank is 1. Figure shows India’s Innovation rank. US = USA, CH = China, JP = Japan, GR =
Germany, IN = India, UK = United Kingdom, FR = France, IT = Italy and BR = Brazil. Debt finance data pertains
to 2019
Source: The World Bank and GII database

8.49 Figure 43 shows the performance of top ten economies (GDP current US$) on innovation
with respect to availability of debt finance in the form of domestic credit to the private sector by
banks (per cent of GDP). India and Brazil rank much below expectation for their level of debt
market development in the overall GII, innovation outputs and innovation inputs amongst the
top ten largest economies.