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India ranks at 54th position among most innovative countries

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figures at 54th position among the world's most innovative countries, according to 2019 Innovative Index.

It is for the first time that has made it to the rankings. The development comes as world leaders gather at the ongoing annual in where they will discuss globalisation and how innovation propels countries forward.

The annual Innovation Index analyses dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of

Explaining the process behind how the nations were assigned a score, said that the 2019 ranking process began with more than 200 economies. Nations that didn't report data for at least six categories were eliminated, trimming the total list to 95.

has retained the top spot with a score of 87.38, while scored 87.30 for improvements in research and education.

with a score of 85.70 came third on the list, followed by with a score of 85.49. came in at the 5th spot with a score of 84.78.

Each country was scored on a 0-100 scale based on seven equally weighted categories.

The fell one spot to 18th and lost out to for the first time ever in Bloomberg rankings. The moved up to eighth place, a year after cracks in education scores pushed it out of the top 10 for the first time.

Among the new entrants annual Bloomberg Innovation Index are some of the world's largest emerging economies: India, Mexico, and

.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 23 2019. 08:53 IST
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