Daily Management Review

India enters top 50 of Global Innovation Index for the first time


India entered the top 50 of the Global Innovation Index for the first time, moving up four positions to 48th and retaining its leading position among Central and South Asian countries, the World Intellectual Property Organization (WIPO) reported.

The report has been compiled annually since 2007 with the participation of the International Business School INSEAD (France), Cornell University (USA) and the World Intellectual Property Organization. The index is calculated according to 80 parameters, including human capital, development of innovative projects, infrastructure and others. The report is based on the analysis of the innovation systems of 131 countries and presents the ranking according to the level of innovative development.

The leaders of the index are Switzerland, Sweden, the USA, the UK and the Netherlands, while the top ten are high-income countries.

India has become the third most innovative lower-middle-income economy in the world thanks to new indicators and improvements in various areas of the index, the report said. India is in the top 15 in terms of exports of information and communications technology services, government online services, science and technology alumni, and global research and development-intensive companies.

WIPO has also recognized India as one of the 2019 Innovation Leaders in the Central and South Asia region, as the country has shown continuous improvement in its ranking over the past five years.

source: wipo.int