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India 66th in global innovation index

business Updated: Jul 02, 2013 23:08 IST
HT Correspondent

India ranks 66th in innovation capacity and efficiency among 142 countries of the world, according to the report "Global Innovation Index (GII) 2013" published jointly by Cornell University, INSEAD and World Intellectual Property Organization (WIPO) with Confederation of Indian Industry (CII).

The GII 2013 used 84 indicators including the quality of top universities, availability of micro finance and venture capital deals among others to gauge innovation capabilities in a country.

India ranked first in the Central and South Asia region followed by Kazakhstan and Sri Lanka, and 11th overall in innovation efficiency ratio. The strength areas for India are gross capital formation as percentage of GDP, investment in new business, industrial cluster development, computer and information services exports and creative goods exports, among others. India ranked poor in areas such as political stability, ease of starting business, school life expectancy, pupil-teacher ratio and knowledge absorption among others.