File photo. Photograph:( AFP )
Switzerland, Sweden, the US, the UK and the Netherlands led the list, and the top 10 rankings largely figure countries with high-income
Securing the 48th spot, India for the time entered the list of the world's 50 most innovative countries.
The Global Innovation Index (GII) list 2020 was released on Wednesday jointly by the World Intellectual Property Organization (WIPO), Cornell University and INSEAD Business School.
Switzerland, Sweden, the US, the UK and the Netherlands led the list, and the top 10 rankings largely figure countries with high-income.
India has moved up four places as in 2019, it secured 52nd position and gained 81st spot in 2015.
The release said that the list shows a gradual "eastward shift in the locus of innovation" as countries like India, China, the Philippines and Vietnam have shown a significant rise in rankings over the years.
It also said India has become the third-most innovative country in the category of lower-middle-income economies with the addition of new indicators and improvements in various parameters of the GII.
"Thanks to universities such as the Indian Institute of Technology in Bombay and Delhi and the Indian Institute of Science in Bengaluru, and its top scientific publications, India is the lower middle-income economy with the highest innovation quality," the release said.
India ranks in the top 15 in fields including ICT (Information and Communication Technology) services exports, government online services, graduates in science and engineering, and R&D-based global companies.
The index ranked 131 countries on metrics such as institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.