New Delhi: India has climbed 4 spots to 48th position in the Global Innovation Index 2020 rankings released by the World Intellectual Property Organization (WIPO).
India was at the 52nd position in 2019 and was ranked 81st in the year 2015. The WIPO had also accepted India as one of the leading innovation achievers of 2019 in the central and southern Asian region, as it has shown a consistent improvement in its innovation ranking for the last 5 years.
Switzerland, Sweden, the US, the UK, and the Netherlands lead the innovation ranking, and the top 10 positions are dominated by higher-income countries.
WIPO also stated that India has become the third most innovative lower-middle-income economy in the world, thanks to newly available indicators and improvements in various areas of the GII.
India ranks in the top 15 in indicators such as ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&D-intensive global companies.
A total of 131 countries were analyzed under the GII before arriving at the rankings.
The metrics include institutions, human capital and research, infrastructure, market sophistication, and business sophistication, knowledge and technology outputs, and creative outputs.
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