On Wednesday, the World Economic Forum released data that shows the world’s most innovative economies.
World Economic Forum reported, “Switzerland scores well across the index’s seven areas and is particularly strong in areas such as high R&D expenditure and for having an innovative business sector.”
According to data, Switzerland is the most innovative economy, in the second position is Sweden and the third is the United States of America with a score of 66.08, 62.47, and 60.56 respectively. Referring to Switzerland, the World Economic Forum said thanks to the “high-quality of its universities and scientific publications,” but also the efforts to goes to “internationalize its inventions.”
India ranks 48 out of 131 countries in Global Innovation Index 2020, 57 out of 131 countries in Innovation Input Sub-Index 2020, and 45 out of 131 countries in Innovation Output Sub-Index 2020. India has been ranked 1st as the most innovative economy in the Central and South-Asian region and ranked 3rd among low middle-income economies out of 29 countries.
Director-General Confederation of Indian Industry (CII), Chandrajit Banerjee said, “This year’s Global Innovation Index (GII) report provides valuable insight into country innovation models and each country’s position on various innovation indicators. The Global Innovation Index has been instrumental to India in shaping its policies and designing an actionable agenda for innovation excellence.”
“Last year, it was both a privilege and honour for the Confederation of Indian Industry (CII) to host, for the first time, the historic global launch of the Global Innovation Index in collaboration with the Department for Promotion of Industry and Internal Trade, the Government of India, and the World Intellectual Property Organization. The worldwide launch of the GII in India was a significant milestone for the country and a phenomenal recognition of our standing in innovation,” he further stated.
