Thursday, July 25, 2019

India Moves Up to 52nd Rank in World’s Most Innovative Countries

India missed by a whisker its entry into the list of world’s top 50 most innovative countries but bettered its own ranking by climbing 5 notches to 52 in the Global Innovative Index of 129 countries this year.

Switzerland retained number one spot. US, UK, Netherlands, Finland, Singapore, Germany and Israel were among the top ten. In 2018, India was in the 57th position.

The index, which tracks government polices and industry practices, was launched, for the first time, in an emerging economy this year. GII is developed jointly by Cornell University and World Intellectual Property Organisation.

Three cities -- Bengaluru, Mumbai and New Delhi -- featured in the world’s top 100 science and technology clusters, according to the GII 2019 as India maintained its top slot in the Central and Southern Asia region.

The report was released by Commerce and Industry Minister Piyush Goyal, who said that the government was committed to further improving the ranking.

India improved its position in areas including labour productivity growth, knowledge and technology outputs, intellectual property related variables. It also witnessed improvement in institutions, human capital and research, and market sophistication indicators.

Notable gains were also made in political and operational stability where a new indicator was used this year and in ease of starting a business.

India, however, lagged on logistics performance and females employed with advanced degrees.

The report stated that despite signs of slowing economic growth, innovation continued to blossom, particularly in Asia, but pressures was looming from trade disruptions and protectionism.

“In this pillar, the indicator graduates in science and engineering (7th) remains a relative strength for the country. Thanks to the quality of its top 3 universities— IITs (Delhi and Bombay) and the Indian Institute of Science in Bengaluru, India achieves a relatively strong ranking in the indicator quality of universities (21st),” the report added.

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