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NEW DELHI: The 2020 edition of the global innovation index (GII) released on Wednesday shows India jumped four spots to 48th since 2019.
The index, compiled by the World Intellectual Property Organization (WIPO) in conjunction with Cornell University and INSEAD Business School, presents the latest trends in global innovation and annual innovation ranking of 131 economies.
Switzerland ranked first in the GII ranking followed by Sweden, the United States of America, the United Kingdom and the Netherlands.
Moving up four spots from 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 the new available indicators and improvements in various areas of the GII.
India ranks in the top 15 for indicators such as ICT service exports, online government services, science and engineering graduates, and R&D-intensive global enterprises.
“Thanks to universities such as the Indian Institute of Technology in Mumbai and Delhi and the Indian Institute of Science in Bengaluru, and its leading scientific publications, India is the lower middle-income economy with the highest quality of innovation,” the report noted.
India increased the most in three pillars: Institutions (61st), business sophistication (55th) and creative products (64th), he noted.
While the data shows stability at the top, WIPO said it also clearly indicates that there is “a gradual shift eastward in the locus of innovation,” with a group of Asian economies moving up the rankings.
China, India, the Philippines and Vietnam have made the biggest gains on the index in recent years, with all four now in the top 50, he said.
China, which is the only middle-income economy in the top 30, is now ranked 14th.
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