Global Innovation Index: India breaks into top-40 for first time

New Delhi, September 29

Showing a substantial improvement in the global innovation index ranking India has been placed in the top 40 countries for the first time in the annual report for 2022 released by the Switzerland-based World Intellectual Property Organisation (WIPO) on Thursday.

The WIPO in its report, a copy of which is with The Tribune, said, “India is the innovation leader in the lower middle-income group. It continues to lead the world in ICT services exports and holds top rankings in other indicators, including venture capital receipt value, finance for startups and scale-ups, graduates in science and engineering, labour productivity growth and domestic industry diversification.”

Switzerland, the United States, Sweden, the United Kingdom and the Netherlands are the world’s most-innovative economies, according to the report.

Emerging economies are showing consistently strong performance, including India and Turkiye, as both of them enter the top 40 for the first time, it said, adding that in the Global Innovation Index 2022, India jumped to the 40th position while Turkiye is placed at the 37th position.

India has made steady progress in its ranking in the global innovation index. India first entered into the top 50 in 2020 and found a place in the top 40 this year, it noted.