India climbed four spots and is currently in the 48th position and the country is in the list of top 50 innovative countries in the Global Innovation Index.
The top spots on this year`s ranking are held by Switzerland, Sweden, the US, UK, and the Netherlands. The India Innovation Index, which was released the last year by NITI Aayog, is widely accepted as a major step in the path to the decentralization of innovation across all the states of India.
The World Intellectual Property Organization (WIPO) annual ranking released the Global Innovation Index 2020 in which India occupied the 48th position. In 2019, India`s position was 52, and the 81st position in the year 2015.
World Intellectual Property Organization (WIPO) accepted that India has shown consistent improvement in the rankings for the past five years and India is one of the leading innovation achievers in the year 2019 in the central and southern Asian regions.
The consistent improvement in the Global Innovation Index rankings is due to the vibrant startup ecosystem, immense knowledge capital, and the amazing work which is done by the private and the public research organizations. NITI Aayog has provided a constant thrust in monitoring and evaluating India`s positions in Global rankings like the Global Innovation Index.
The top 10 positions are dominated by high-income countries, according to World Intellectual Property Organization (WIPO).
India has become the third most innovative lower-middle-income economy in the world, according to the Global Innovation Index, and India ranks in the top 15 indicators such as government online services, ICT (Information and Communication Technology) services exports, graduates in science and engineering, and Research and Development Intensive global companies.
The total number of companies that were analyzed under the Global Innovation Index was 131. The metrics included human capital and research, institutions, infrastructure, market sophistication, and business sophistication, knowledge and technology outputs, and creative outputs.
Policy-led outputs in different areas such as electronic vehicles, biotechnology, nanotechnology, space, and alternative energy sources were achieved by the efforts of NITI Aayog.
The universities such as the Indian Institute of Technology in Bombay and Delhi and the Indian Institute of Science in Bengaluru along with its top scientific publications led to India being the lower-middle-income economy with the highest innovation quality.
