India has improved its ranking in the Global Innovation Index (GII) 2021 by two spots securing the 46th position among 132 economies up from the 48th in the previous year's ranking, according to the report by the World Intellectual Property Organization (WIPO).
In 2015, India stood at 81st position. The Global Innovation Index assesses and ranks world economies based on their innovation and consists of about 80 indicators.
Among lower-middle-income economies, India stands second and first among the 10 economies in Central and Southern Asia. Relative to gross domestic product (GDP), the country's performance is above expectations for its level of development, WIPO said in a statement.
What Are India's Strengths?
Graduates in science and engineering disciplines and global corporate research and development investors are India's strengths, WIPO said. An official statement said that the scientific departments like the Department of Atomic Energy; the Department of Science and Technology; the Department of Biotechnology and the Department of Space have played an important role in enriching the National Innovation Ecosystem.
The criteria to analyse innovation cover institutions, human capital and research, credit, infrastructure, investment, linkages, creation, absorption, and diffusion of knowledge, and creative outputs. Among the 132 countries, Switzerland, Sweden, the US, and the UK are the leaders in innovation.
Meanwhile, thinktank NITI Aayog in a statement attributed the improvement in India's rankings over the past six years to the availability of immense knowledge capital and a promising start-up ecosystem. India's ranking has been consistently improving over the years. In 2015, the country's rank stood at 81 in 2015. In 2019, it stood at 52.