India rises to 66th rank in innovation

Source: The Economic Times, Aug 16, 2016

BENGALURU: Reversing a trend of declining rankings every year, India rose by 15 positions to become the 66th most innovative nation in the world. India’s neighbour China also improved its ranking slightly and broke into the club of 25 top innovative nations in the world.

The Global Innovation Index has been created and reported every year by the Paris-based business school Insead, Cornell University and the World Intellectual Property Organisation, a United Nations agency. The Gobal Innovation Index is positioned as resource for policy makers, to identify areas of possible improvement in innovation. It is based on 82 variables across seven areas, grouped into two divisions — inputs and outputs for innovation.

India had been faring poorly for several reasons over the years, largely related to poor infrastructure, performance in education, intellectual property and so on.

This year it has done well largely based on good performances on information technology services exports and creative goods exports.

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