India Storms into Top 40 Position in Global Innovation Rankings

(The Quiver): India entered the top 40 nations in the Global Innovation Index (GII) for the first time thanks to increases in venture capital recipients’ values, exports of information and communication technologies (ICT) services, and startup financing.

India maintains its top rankings in other indicators as well, including the value of venture capital recipients (6th), financing for startups and scaleups (8th), graduates in science and engineering (11th), labour productivity growth (12th), and domestic industry diversification. India continues to lead the world in the export of ICT services (14th).

Switzerland was named the most innovative economy in the world for the 12th year in a row in the Global Innovation Index (GII) 2022.

Switzerland leads in innovation outputs, particularly when it comes to spending on software, high-tech manufacturing and production, and export complexity.

The United States (US) came in second, ahead of Sweden, the United Kingdom (UK), and the Netherlands.

India Innovating Like Never Before!

India climbs to the 40th rank in the Global Innovation Index of @WIPO, a huge leap of 41 places in 7 years.

The steady rise testifies that India under the leadership of PM @NarendraModi ji is rapidly emerging as the global innovation hub. pic.twitter.com/pltqW8kdUh
— Piyush Goyal (मोदी का परिवार) (@PiyushGoyal) September 29, 2022

Indonesia exhibits promising innovation potential, while Turkey and India are positively enhancing the global innovation landscape with their rise in innovation performance under the shadow of shocks to global supply chains. Soumitra Dutta said.

India was the top-ranked “most innovative economy” in Central and Southern Asia, followed by Iran and Uzbekistan.