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Global Innovation Index and Its Impact on GDP of BRICS Nations Innovation Linkages with Economic Growth: An Empirical Study
By Namita Rajput, Akanksha Khanna, Shelly Oberoi
Innovation is an important but challenging factor in creating and sustaining competitive advantage. In 2001, Goldman Sachs coined the term BRICs to describe the four large developing countries of Brazil, Russia, India, and China. The GII (Global Innovation Index) helps to build an environment in which innovation factors are evaluated incessantly, and it provides a key tool for refining innovation policies. The research work Undertaken is phenomenological in nature which attempts to explore the nostalgic and current trends in technological innovations in BRICS through our inductive approach and arrives at conclusion. Most of the information in the research work is from the secondary sources including books, journals, and accessible report data from foreign governmental or agential official websites. The paper embraces sensibly interconnected parts. In the first section of the paper, different Theoretical bases are analyzed to construct our own supposition. The second part discuss how BRICS is handling technological innovations to build innovation determined economy, while the third part explores the interrelationships between GDP and GII on its path to further ensue towards the proposed target. The final part deals with summary and conclusions.