India has climbed 4 spots and has been ranked 48th by the World Intellectual Property Organization (WIPO) in the Global Innovation Index 2020 rankings.
India ranked 48th with jump of 4 spot.
It is a remarkable achievement to be in a league of highly innovative developed nations all over the globe.
India became the third most innovative lower middle-income economy in the world.
A total of 131 countries were analysed under the GII before arriving at the rankings for 2020.
Switzerland bagged the first spot in the GII ranking followed by Sweden, USA, UK and Netherlands.
The Global Innovation Index (GII) is an annual ranking of countries by their capacity for, and success in, innovation.
The index, compiled by World Intellectual Property Organisation (WIPO) along with Cornell University and the INSEAD business school.
The index was started in 2007 by INSEAD and World Business, a British magazine. The GII is commonly used by corporate and government officials to compare countries by their level of innovation
It is based on both subjective and objective data derived from several sources, including the International Telecommunication Union, the World Bank and the World Economic Forum.
