new Delhi. Marking a major progress amid the epidemic, India has moved up four places to 48th position in this year’s Global Innovation Index (GII 2020). Compiled by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School, the index measures 131 economies.
Switzerland, Sweden, the US, the UK and the Netherlands lead the innovation rankings.
Switzerland, Sweden, the US, the UK and the Netherlands have led the innovation rankings. This means that these countries hold the top position in terms of innovation.
South Korea entered the top 10 on this list for the first time, while Singapore ranked eighth.
High-income countries dominate the top 10.
The innovation index shows the year-over-year situation. Apart from India, China, the Philippines and Vietnam have done well in recent years in this list, which can be seen as a better change for Asian economies.
The report said that India retained the highest rank in the Central and South Asian region.
India is the third most innovative economy in the world among the lower middle-income countries with a four-rank improvement from last year.
India has improved its position among all GII indicators. The report said that India ranks among the top 15 among Indicators like ICT Services Exports, Government Online Services, Graduates in Science and Engineering and R&D Intensive Global Companies.
India has achieved this position thanks to institutions like IIT Bombay and Delhi, the Indian Institute of Science, Bangalore and top scientific publications.
India has been steadily improving in the last few years in terms of innovation, which is a good sign.
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