Home / News / India /  India improves ranking among innovative nations

NEW DELHI : India has improved its ranking among the most innovative nations in the world from 46 in 2021 to 40 this year, according to the global innovation index 2022 brought out by the World Intellectual Property Organisation (WIPO). 

The global innovation index report said that within Central and Southern Asia, India has moved up to 40th position, from its 46th position in 2021 and its 81st rank in 2015. The most innovative nations in the world are Switzerland, the United States, Sweden, the UK and the Netherlands.

Turkey and India enter the top 40 for the first time, placed 37th and 40th, respectively, the report said. India overtook Vietnam (48th position) as leader of the lower middle-income group. 

India continues to lead the world in the information and communication technology services exports indicator and holds top rankings in other indicators, including Venture capital recipients’ value (6th), finance for startups and scaleups (8th), graduates in science and engineering (11th), labor productivity growth (12th) and domestic industry diversification (14th), the report said.

India, Kenya, the Republic of Moldova and Viet Nam continue as record holders by being innovation achievers for the 12th consecutive year. “India’s innovation performance is above average for the upper middle-income group in almost every innovation pillar, with the exception of Infrastructure, where it scores below average," the report said.

Kenya (88th) scores above its income group in institutions, business sophistication, knowledge and technology outputs, and creative outputs. Viet Nam continues to score above the lower middle-income group average in all pillars, and even scores above average for the upper middle-income group in every pillar, apart from human capital and research, the report said.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout