New Delhi: India has joined the group of top 50 nations in the global innovation index for the first time, moving up four places to the 48th position and keeping the top position among the countries in focal and southern Asia.
According to the Global Innovation Index (GII) list, 2020 released mutually by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School on Wednesday, the rankings show stability at the top a gradual “eastward shift in the locus of innovation” as Asian economies like China, India, the Philippines and Vietnam have advanced considerably in the innovation ranking over the years.
Switzerland, Sweden, the US, the UK and the Netherlands lead the innovation ranking, and the top 10 positions are dominated by high-income countries, WIPO said in a statement.
About India, the statement said it has become the third most innovative lower middle-income economy in the world, thanks to newly available indicators and improvements in different areas of the GII.
India positions in the best 15 in indicators, for example, ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&D-intensive global companies.
“Because of universities, for example, the Indian Institute of Technology in Bombay and Delhi and the Indian Institute of Science in Bengaluru, and its top scientific publications, India is the lower center salary economy with the highest innovation quality,” it said.
A total of 131 countries were analysed under the GII before arriving at the rankings.
The measurements include institutions, human capital and research, infrastructure, market advancement and business modernity, information and technology outputs and creative outputs.