IBEF: September 03, 2020
India jumped four places to rank at 48th position at the 2020 edition of the Global Innovation Index (GII). The index, compiled by World Intellectual Property Organisation (WIPO) along with Cornell University and the INSEAD business school, presents the latest global innovation trends and annual innovation ranking of 131 economies.
Moving up four positions since last year, India became the third most innovative lower middle-income economy in the world. The report noted that the jump can be attributed to newly available indicators and improvements in various areas of the GII.
India ranks in the top 15 in indicators such as ICT services exports, government online services, graduates in science and engineering, and R&D-intensive global companies. "Thanks to universities such as 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 middle-income economy with the highest innovation quality," the report noted.
India increased the most in three pillars: Institutions (61st), business sophistication (55th), and creative outputs (64th), it noted. While the data shows stability at the top, WIPO said it also clearly indicates that "a gradual eastward shift in the locus of innovation" is under way, with a group of Asian economies advancing up the rankings.
China, India, the Philippines and Vietnam have made the most progress on the index in recent years, with all four now among the top 50, it said. China, which is the only middle-income economy among the top 30, now holds the 14th place.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.