News > India climbs 35 ranks in Global Innovation Index but lags in patents: Economic Survey
India climbs 35 ranks in Global Innovation Index but lags in patents: Economic Survey
Business Insider | 31/01/2022 06:20 PM | Click to read full article
Despite climbing 35 notches in the Global Innovation Index, from 81 in 2015-16 to 46 in 2021, India lags in the number of patents granted which is still a fraction compared to leading world economies.
Most of India's startups are in the IT/knowledge-based sector and intellectual property, specifically patents, are key to this knowledge-based economy.