NEW DELHI: India joined the group of top 50 countries in the global innovation index for the first time, finding its place at the 48th rank.
The rankings show Asian economies like China, India, the Philippines, and Vietnam advancing considerably in the innovation ranking over the years, according to the Global Innovation Index (GII) list, 2020 released jointly by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School, released on September 2nd.
The top 10 positions are dominated by high-income countries, led by Switzerland, Sweden, the US, the UK, and the Netherlands.
WIPO statement said that India has become the third most innovative lower-middle-income economy in the world.
India ranks 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.