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India's Enters List of World's Most Innovative Nations
Jan 28, 2019

Recently, I came across a piece of news that seems to validate Tanushree's optimism about India's future.

For the very first time, India has appeared in the list of the world's most innovative nations in 2019.

The chart of the day shows the scores of the nations that ranked among the top five (in red) - South Korea, Germany, Finland, Switzerland, and Israel. India, with a score of 47.93, ranked 54th in the list.

Bloomberg has been publishing the innovation index since the last seven years. But India hadn't made it to this list before.

The annual Bloomberg Innovation Index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability, concentration of high-tech public companies, patent activity, among others.

It is interesting to note that the ranking process in 2019 began with more than 200 economies. Each economy was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn't report data for at least six categories were eliminated, trimming the total list to 95.

The final list published by Bloomberg consisted the top 60 economies.

Anyone who still thinks India is a poor country of elephants and snake charmers needs to seriously rethink.

Data Source: Bloomberg

This Chart Of The Day was published in The 5 Minute WrapUp - Do You Really Know India as Well as You Think?

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