India has improved its rank in the index of the world’s most innovative nation from 60th position last year to 57th position this year as per the Global Innovation Index (GII).
Though ranked at 57, India is a top performer in the lower middle-income group, where it is ranked at fifth position. It is the most innovative country in its region of central and southern Asia. he GII is being developed jointly by Cornell University, the Paris-based business school Insead and the World Intellectual Property Organization (WIPO) in Geneva.
GII ranks 126 economies based on 80 indicators. It is now in its 11th edition and has become a major input for policymakers on innovation around the world. Maintaining its position as the top exporter of IT services, India still lags behind in parameters of ease of doing business, political stability and safety, and female employees with advanced degrees in the workforce.
Since 2011, Switzerland has been ranked at the top every year. This year, the Netherlands follows at second place and Sweden at third. The US drops down to sixth from fourth last year. Apart from a rearrangement among themselves, the top 10 nations in GII have not changed.