Switzerland again tops Global Innovation Index, India up six spots

Switzerland was named the most innovative economy in the world for the 12th year in a row in the Global Innovation Index (GII) 2022, which was published on Thursday by the World Intellectual Property Organization (WIPO).

“Switzerland remains the world’s leader in innovation for the 12th consecutive year. It leads globally in innovation outputs, and specifically in patents by origin, software spending, high-tech manufacturing and production and export complexity,” the Global Innovation Index 2022 read.

The United States (US) came in second, ahead of Sweden, the United Kingdom (UK), and the Netherlands.

The rankings took into account, among other things, infrastructure and technology outputs, business sophistication, people and capital research, and more.

India secured the 40th position in the Global Innovation Index. This is the first time the country entered the top 40. Last year, India was at the 46th position.

With India’s progress in ranking, Union commerce and textiles minister Piyush Goyal tweeted the country is innovating like never before. “India climbs to the 40th rank in the Global Innovation Index of WIPO, a huge leap of 41 places in 7 years. The steady rise testifies that India under the leadership of Prime Minister Narendra Modi is rapidly emerging as the global innovation hub,” Goyal said.(WION)