In the Global Innovation Index (GII) 2017, India has moved up six places to be ranked at 60th position. This is being considered significant since India was witnessing a consistent drop in its GII rankings in the last 5 years. Globally, Indian is ranked at 60th spot, but if we look at central and South Asia, it has emerged as the top-ranked economy in terms of innovation. However, India is still far behind China, which has been ranked at 22nd spot. The GII is co-authored by Cornell University, INSEAD and World Intellectual Property Organization. The Indian Ministry of Commerce & Industry was excited to know about this development and said that the efforts of the government are finally showing results.
The GII report also says that other neighboring countries have also benefitted from India’s focus on innovation. “Opportunities have emerged to leverage the rise of new East Asia Innovation Tigers, fostering deeper regional innovation networks and benefiting from the rise of India,” the report states. India’s closest neighbors that include Sri Lanka, Nepal, Pakistan and Bangladesh have been ranked at 90th, 109th, 113th, and 114th spot respectively in the GII. The report acknowledges India’s progress in terms of investment, tertiary education, quality of its publications and universities, its ICT services exports and innovation clusters.