Despite being ranked on the lower end, India remains the top performer in the lower middle-income group, where it takes the secured fifth spot.
India has taken the 57th position on the Global Innovation Index that ranks 126 economies based on 80 indicators. The country's rank has been improving from the 81st spot in 2015 to the 60th place in 2017. The Economic Times reported.
Despite being ranked on the lower end, India remains the top performer in the lower middle-income group, where it takes the secured fifth spot.
In central and south Asia, India is the most innovative country. In the indicators that capture the quality of innovation input and output, the country is ranked second after China in the lower and upper middle-income group combined.
China too has improved its ranking from 22 in 2017 to 17 this year.
Many Asian countries have been steadily improving their ranking over the past five years, including the Philippines, Cambodia and Vietnam. Four of the top five innovation clusters are in Asia, based on patents and publishing.
The Global Innovation Index which published its 11th edition has become a major input for policymakers on innovation around the world. This time, topping the charts is Switzerland that has been ranked first since 2011, followed by the Netherlands and Sweden.