India ranked at 54th position in list of world’s most innovative countries

India has been ranked at 54th position in the list of world’s most innovative countries, according to Bloomberg 2019 Innovative Index. It is for the first time that India has made it to the rankings. South Korea has topped the Index for the sixth time in a row with a total score of 87.38, followed by Germany, Finland, Switzerland, Israel, Singapore, Sweden, U.S., Japan and France in the top 10. The annual Bloomberg Innovation Index (BII) analyses dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies. In the 2019 Index, India is among the new entrants from the world’s largest emerging economies with a total score of 47.93. Barring India, other nations include Mexico, Vietnam and Saudi Arabia also made a surprise entry. Bloomberg has published top 60 economies out of 95 economies analyzed for the ranking process for the year 2019. Each economy has been assigned a score from 0-100 on the basis of seven equal-weighted metrics.