India jumps up 4 places to enter top 50 on the Global Innovation Index 2020

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Amid the lockout, Covid-19 blues, India jas jumped four positions to land in the 48th spot on the Global Innovation Index 2020. India currently ranks among the 50 most creative nations. Every year the World Intellectual Property Organization (WIPO) releases rankings for the Global Innovation Index.

This year, Switzerland, Sweden, the U.S., and the U.K. dominate the annual list. And Holland. According to the Organisation, over the years India, China, the Philippines, and Viet Nam were the economies with the most important improvement in their GII innovation ranking. Both four are in the top 50, now.

Indian growth in the last five years has been remarkable. India was placed on the chart at 81 in 2015. It jumped 6 points to 60th place again in 2017. India climbed 3 more ranks in 2018 to land in 57th place. It jumped 5 positions on the list last year, to rank 52nd. The country eventually broke into the top 50 this year and is classified in 48th place.

In its Global Innovation Index (GII) 2020, the WIPO noted that the COVID-19 pandemic is putting a severe strain on a long-term increase in global innovation, possibly hampering some creative activities while catalyzing entrepreneurship elsewhere, especially in the health sector.

It is worth noting that the GII demonstrates year-on-year consistency at the top in its related annual ranking of the world’s economies on innovation potential and production, but a steady eastward change in the innovation locus as a community of Asian economies – especially China, India, the Philippines, and Viet Nam–have substantially advanced in the innovation ranking over the years.

Switzerland, Sweden, the United States, the United Kingdom, and the Netherlands dominate the innovation list, with for the first time a second Asian economy-the Republic of Korea-joining the top ten (Singapore is number 8). High-income countries dominate the Top 10. The GII’s highest-performing economies also come almost entirely from the high-income community, with China (14th) being the only middle-income economy in the top 30 GII. Then leads Malaysia (33rd).

India (48th) and the Philippines (50th) have made it into the top 50 this year for the first time. The Philippines is attaining its highest ever rank–it ranked 100th in 2014. Viet Nam ranks 42nd for the second straight year, leading the lower-middle-income group — from 71st in 2014. Indonesia (85th) reaches this group’s top-ten. Tanzania comes in top of the low-income category (88th).

 

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