India ranked in top 50 nations in the Global Innovation Index 2020

About India, the statement said it has become the third most innovative lower middle-income economy in the world, thanks to newly available indicators and improvements in various areas of the GII

India climbed four spots on the Global Innovation Index 2020 and is now at 48th position in the list of top 50 innovative countries in the World Intellectual Property Organization (WIPO) annual ranking.

Switzerland, Sweden, US, UK and Netherlands are in the top spots of this year's ranking. According to an official release, India occupied the 52nd position in 2019 and was ranked 81st in the year 2015.

The WIPO had also accepted India as one of the leading innovation achievers of 2019 in the central and southern Asian region, as it has shown a consistent improvement in its innovation ranking for the last 5 years.

As per the release, the consistent improvement in the global innovation index rankings is owing to the immense knowledge capital, the vibrant startup ecosystem, and the amazing work done by the public and private research organizations.

The India Innovation Index, which was released last year by the NITI Aayog, has been widely accepted as the major step in the direction of decentralization of innovation across all the states of India.

A constant thrust in monitoring and evaluating India's position in global rankings has been provided by the NITI Aayog, including the global innovation index, the release stated.