Global Innovation Index 2022: India climbs to 40th rank

Global Innovation Index 2022: India has climbed to the 40th rank in the Global Innovation Index of the World Intellectual Property Organization. This is a huge leap of 41 places in 7 years. India has leapfrogged to 40th position on the Global Innovation Index (GII) 2022 from the 81st spot in 2015. India’s innovation performance is above average for the upper-middle-income group in almost every innovation pillar, with the exception of infrastructure, where it scores below average. Within Central and Southern Asia, India continues to lead in the 40th position, moving further up the rankings, from its 46th position in 2021.

“India continues to lead the world in ICT (information and communication) services exports and holds top rankings in other indicators, including venture capital receipt value, finance for start-ups and scale-ups, graduates in science and engineering, labour productivity growth and domestic industry diversification.

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The World Intellectual Property Organization released the Global Innovation Index 2022 in which Switzerland has emerged as the world’s most innovative economy for the 12th consecutive year. Switzerland remains the world’s leader in innovation for the 12th consecutive year. It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing, production, and export complexity. The second position was secured by the US followed by Sweden, the UK, and the Netherlands.