India breaks into top-40 for first time on Global Innovation Index

Current Affairs

  • India, for the first time, made it to the top 40 countries at the Global Innovation Index (GII), led by improvement in information and communication technologies (ICT) services exports, venture capital recipients’ value, and finance for startups.
  • 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. Within Central and Southern Asia, India continues to lead in the 40th position, moving further up the rankings, from its 46th position in 2021.
  • The World Intellectual Property Organization released the Global Innovation Index 2022 in which Switzerland has emerged as the world’s most innovative economy for the 12th consecutive year. Switzerland remains the world’s leader in innovation for the 12th consecutive year.
  • It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing, production, and export complexity. The second position was secured by the US followed by Sweden, the UK, and the Netherlands.

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