India stands at 46th place in the Global Innovation Index 2021 by the World Intellectual Property Organisation (WIPO).
The country has jumped two spots after breaking into the top 50 countries the last year.
The GII 2021 report said, “besides China, only Turkey, Vietnam, India and the Philippines are systematically catching up. All four Asian economies have romped up the ranks by an average of 22 positions in the past decade.”
Switzerland, Sweden, the United States and UK has hold on to their top four ranks in the index while China is in 12th rank .
India grabs the second place in the lower middle-income group.
As per to the report, India has been sketched as successful in developing advanced services that are technologically dynamic and can be traded globally.
The GII report also stated that India continues to globally lead in the area of ICT services exports indicator and holds top ranks in other indicators like the domestic industry diversification (12th) and graduates in science and engineering (12th).
As per to the report, India, Kenya, the Republic of Moldova and Vietnam are still holding records for being innovation achievers for eleven consecutive years.
The country’s innovation performance is above average for the upper middle-income group in five of the seven innovation pillars.
Although, India scores below average in the pillars of infrastructure and creative outputs.
India’s performance in the terms of science and technology (S&T) is also inspiring.
The report noted that the top 100 S&T body are hosted by 26 economies, of which six including Brazil, China, India, the Islamic Republic of Iran, Turkey and the Russian Federation were middle-income economies.