India jumps 4 places to rank 48 on Global Innovation Index 2020

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THO
NEW DELHI: The 2020 edition of the Global Innovation Index (GII) released on Wednesday shows India jumped four places to rank at 48th position since 2019.
The index, compiled by World Intellectual Property Organisation (WIPO) along with Cornell University and the INSEAD business school, presents the latest global innovation trends and annual innovation ranking of 131 economies.
According to the report, India retained the regional top rank among Central Asian economies and becomes 3rd in the rankings among the lower middle-income economies. For the 10th consecutive year,
India is an innovation achiever.
India increases the most in three pillars: Institutions (61st), business sophistication (55th), and creative outputs (64th), it noted.
While the data shows stability at the top, WIPO said it also clearly indicates that “a gradual eastward shift in the locus of innovation” is under way, with a group of Asian economies advancing up the rankings.
China, India, the Philippines and Vietnam have made the most progress on the index in recent years, with all four now among the top 50, it said.
China, which is the only middle-income economy among the top 30, is now in 14th place.

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