New Delhi (NVI): Marking a major advancement amid the coronavirus pandemic, India has now joined the list of top 50 countries in the Global Innovation Index for the very first time, ranked 48th, maintaining the top position among central and south Asian countries.
India has moved up four places in the Global Innovation Index (GII) 2020 report which was released on Wednesday.
Compiled by the World Intellectual Property Organisation (WIPO), Cornell University and INSEAD business school, the index assessed 131 economies.
According to the Global Innovation Index (GII) list, 2020, the rankings show stability at the top but 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.
South Korea joined the top 10 for the first time while Singapore is at number 8. The top 10 is dominated by high-income countries.
India retained the highest rank in the Central and Southern Asian region, followed by Iran, said the report.
Moving up four positions since last year, India became the third most innovative lower-middle-income economy in the world.
It 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, said the report.
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, added the report.
The metrics include institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.
-CHK
