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Global Innovation Index 2022: India rises to 40th position from 81st spot in 2015

The most innovative economy of 2021 was Switzerland, followed by the US, Sweden, the UK and the Netherlands, as per the the Global Innovation Index (GII) 2022.

ET Now Digital

Updated Sep 29, 2022, 19:57 IST

India has leapfrogged to 40th position on the Global Innovation Index (GII) 2022 from the 81st spot in 2015, the government said on Thursday. The country was ranked 46th on the index last year.

The World Intellectual Property Organization (WIPO), a specialised agency of the United Nations, released the Global Innovation Index (GII) report for 2022 on Thursday.

Union commerce and industry minister Piyush Goyal tweeted that India is “innovating like never before” under the leadership of Prime Minister Narendra Modi.

The most innovative economy of 2021 was Switzerland, followed by the US, Sweden, the UK and the Netherlands.

The World Intellectual Property Organization (WIPO) in its statement said, “India continues to lead the world in ICT (information and communication) services exports and holds top rankings in other indicators, including venture capital receipt value, finance for start-ups and scale-ups, graduates in science and engineering, labor productivity growth and domestic industry diversification.”

The GII report also said research and development (R&D) and other investments that drive worldwide innovative activity continued to boom in 2021 despite the Covid-19 pandemic, but challenges are emerging in translating innovation investments into impact.

Meanwhile, GII Co-editor and Dean of the Saïd Business School at Oxford University, Soumitra Dutta, said, “With their rise in terms of innovation performance in the shadow of shocks to global supply chains, Turkiye and India are positively enriching the global innovation landscape, while Indonesia shows promising innovation potential.

Prime Minister Narendra Modi had said on the 75th Independence Day that the next 25 years were crucial for the country, and that it would become a developed nation during the period.

“We have to make India a global centre of research and innovation in this Amrit Kaal. States should adopt best practices from other states. This will be a step to-wards ensuring timely and effective implementation of science-led development programmes in the country,” PM Modi had said in his address to the nation on August 15.

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