India climbs 3 spots to 57th in Global Innovation Rankings
India has consistently been climbing up its Global Innovation Index (GII) ranking since 2015, but the country still has to improve on many indicators to catch up with China and others in the list of 126 nations. The latest GII rankings released put India at 57th position and China at 17th position in 2018 as compared to their last year’s rankings of 60th and 22nd respectively, giving insights into their innovation capabilities and results.
Although India’s score for patent families drops slightly in 2018, its overall performance in this indicator still drives it up to the 5th position in the group. India remains 1st in the region and moves up to the 5th position in the GII rankings among lower-middle-income economies. India has also outperformed on innovation relative to its GDP per capita for many years in a row. The country confirms its rank among the top 50 economies in two pillars—Market sophistication (36th) and Knowledge and technology outputs (43rd)—and is among the top 25 in two sub-pillars—Trade, competition, and market scale (16th) and Knowledge diffusion (25th).
This year India improves in four out of the seven GII pillars: Institutions (80th, up 12 spots), Human capital and research (56th, up 8), Market sophistication (36th, up 3), and Creative outputs (75th, up 10). In Institutions, India gains the most spots in Business environment (106th), mostly thanks to the removal of the variable ease of paying taxes, where it ranked 118th in 2017, and to a much-improved ranking in ease of resolving insolvency. In Human capital and research, Tertiary education (45th) gains several positions, with better rankings in tertiary enrolment and graduates in science and engineering, where it gains the 6th spot globally. Other significant improvements in this pillar are in school life expectancy and researchers. In Market sophistication, it improves both in Credit (70th) and Investment (35th), mostly as a result of gains in ease of getting credit, ease of protecting minority investors, and applied tariff rate.
Despite the achievements documented so far, India loses ground in Infrastructure (77th), Business sophistication (64th), and Knowledge and technology outputs (43rd). All the Infrastructure sub-pillars move down, with Ecological sustainability (119th) losing the most and becoming one of India’s relative weaknesses this year.
Source: Compiled from Global Innovative Index 2018
Published annually since 2007, the GII is considered a leading benchmarking tool for business executives, policy makers and others seeking insights into the state of innovation around the world. Its being used by them to evaluate progress on a continual basis