Global Innovation Index 2022: India moves up 6 places, for the first time in the top 40

India moved up to 40th place out of 132 countries in the 2022 Global Innovation Index, up six places from a year ago, according to the ranking published by the World Intellectual Property Organization (WIPO).

This was mainly due to an improvement in exports of information and communication technology (ICT) services, the value of venture capital recipients as well as start-up financing.

India’s ranking has risen 41 places since 2015, when it was ranked 81st. The country’s ranking was 46 in 2021 in the index that tracks innovation in both government policies and industry practices.

“Switzerland, the United States, Sweden, the United Kingdom and the Netherlands are the most innovative economies in the world, with China at the threshold of the top 10. Other emerging economies are also showing strong performances and constants, including India and Turkey, which both entered the top 10. top 40 for the first time, according to an official PMOI statement. India has overtaken Vietnam (48th) as the top lower-middle-income economy for innovation,” he said.

“With their rise in terms of innovation performance in the shadow of global supply chain shocks, Turkey and India positively enrich the global innovation landscape, while Indonesia shows potential for growth. ‘promising innovation,’ co-editor of GII and dean of Said Business School at Oxford University, Soumitra Dutta, said.

“India is innovating like never before! India climbs to 40th place in the WIPO Global Innovation Index, a huge leap of 41 places in 7 years. The steady increase testifies that India, under the leadership of Prime Minister Narendra Modi, is rapidly becoming the global center of innovation,” Trade and Industry Minister Piyush Goyal said in a statement. a tweet.

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