India is now ranked 60th among 130 countries on the Global Innovation Index (GII) 2017, launched at the UN Headquarters in Geneva recently, moving 6 places up from 66th position last year. India is the top-ranked economy in Central and Southern Asia and has now outperformed on innovation relative to its GDP per capita for seven years in a row. Switzerland, Sweden, the Netherlands, the USA and the UK retain their top spots as the world’s most-innovative countries with Switzerland leading the rankings for the seventh consecutive year.
Key findings of the GII 2017 show the rise of India as an emerging innovation center in Asia. The report states that India’s current and imminent development, and its contribution to the region and the global innovation landscape is vital these days. As demonstrated in the GII for some years, India has consistently outperformed on innovation relative to its GDP per capita. Recently India has made important strides in innovation input and output performance, and is now in the top half of the GII rankings. The continual improvement of India in terms of investment, tertiary education, the quality of its publications and universities, its ICT services exports, and its innovation clusters is significant. It is predicted that India will continue on this trajectory, with innovation investments leading to more and more dynamic R&D-intensive firms that are active in patenting, high technology production, and exports.