As per the latest edition of the global index innovation, India stands at 46th place in the overall rankings. India jumped two spots to 46 global innovation index 2021 prepared by the World Intellectual Property Organization (WIPO). The country could see a rise in the area of innovations during 2021. The rank was 81 in 2015 and India was at 52 in 2019 but it has moved to 46 in 2021.
Switzerland, Sweden, the US, and the UK are the leading countries in innovation. However, India stands in the second position among lower-middle-income countries. Relative to gross domestic product (GDP), India’s performance is above expectations for its level of development, WIPO said in a statement. The statement further said that Graduates in science and engineering disciplines and global corporate research and development investors are India’s main pillars and strength in innovation.
Institutions, human capital and research, infrastructure, credit, investment, linkages, creation, absorption, and creative outputs have been taken into account while considering the ranking. The Centre in an official statement said that the consistent improvement in the global innovation index ranking is due to the enormous knowledge capital, vibrant start-up ecosystem, and the amazing work done by public and private research organizations.
GII also applauded India’s efforts and said that selected middle-income economies are changing the innovation landscape. The four countries -Turkey, Vietnam, India, and the Philippines have the capability to change the landscape of global innovation which is for a good purpose.
The 14th edition of the global innovation index recognized by the UN Economic and the social council gives new data and analysis on the state of global innovation for more than 130 economies.