India ranked in the top 50 nations in the Global Innovation Index

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News: The Global Innovation Index(GII),2020 has been released.

Facts:

  • GII: It is an annual ranking that quantifies the state of national innovation ecosystem across countries.In 2020, it has ranked 131 countries.
  • Published by: The index has been released jointly by the World Intellectual Property Organization(WIPO), Cornell University and INSEAD Business School.
  • Metrics: The metrics include institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.
  • Theme for 2020: Who Will Finance Innovation?

Key Takeaways:

  • Switzerland has topped the index followed by Sweden, US, UK and Netherlands.
  • India has joined the group of top 50 countries in the global innovation index for the first time moving up four places to the 48th rank.
    • India remained the most innovative country in Central and Southern Asia and is also the third most innovative lower middle-income economy in the world.