According to the global innovation index study, India has risen to 40th place in Central and Southern Asia from the 46th position in 2021 and the 81st rank in 2015.
NEW DELHI: According to the World Intellectual Property Organization’s Global Innovation Index 2022, India rose from 46th place in 2021 to 40th place this year among the most innovative countries in the world (WIPO).
According to the global innovation index study, India has risen to 40th place in Central and Southern Asia from the 46th position in 2021 and the 81st rank in 2015. Switzerland, the United States, Sweden, the United Kingdom, and the Netherlands are the world’s most inventive countries.
According to the survey, Turkey and India, who are ranked 37th and 40th, respectively, make their maiden appearances in the top 40. India is now the top country in the lower middle-income group, surpassing Vietnam (48th place).
According to the report, India maintains its top position in other indicators as well, including the value of venture capital recipients (ranked sixth), financing for startups and scaleups (ranked eighth), graduates in science and engineering (ranked eleventh), labor productivity growth (12th), and domestic industry diversification (ranked fourteenth).
For the 12th straight year, India, Kenya, the Republic of Moldova, and Vietnam continue to hold the record for innovative achievement. With the exception of Infrastructure, where it receives below-average rankings, India’s innovation performance is “above average for the upper middle-income category,” according to the report.
In terms of institutions, business sophistication, knowledge and technology outputs, and creative outputs, Kenya (88th) performs better than countries in its income range. With the exception of human capital and research, Vietnam continues to perform better than the lower middle-income group average across all pillars, and even performs better than the upper-middle-income group average across all pillars, according to the report.
