India moves up in GII rankings
The World Intellectual Property Organisation (WIPO) in its latest Global Innovation Index (GII) 2022 report has placed India at the 40th position. The report noted that India has improved its ranking among the most innovative nations in the world, climbing up from its 46th rank in 2021.
According to the report India has maintained its progress in the information and communication technology services exports indicator and leads in other indicators. For the Venture capital recipients’ value, India ranks 6th. In ‘finance for start-ups and scale-ups’ it holds the 8th rank. For ‘graduates in science and engineering’ category India is ranked 11th. In labour productivity growth, it occupies the 12th position and for the ‘domestic industry diversification’ India holds 14th rank. The report said, “India’s innovation performance is above average for the upper middle-income group in almost every innovation pillar, with the exception of Infrastructure, where it scores below average”.
Switzerland, the United States, Sweden, the UK and the Netherlands are the most innovative nations in the world, according to the report.