India emerged as the country with 2nd best conditions for innovation, after the US. UKÂ ranked third and Japan at the fourth.
Japan has emerged as the world’s most innovative nation in terms of business practises, followed by Switzerland, US and Sweden. India has been ranked at 58th position, ahead of China’s 59th position in a ranking of 82 economies, based on their level of innovation during 2002-06. India fared marginally better on a study of innovation enablers (or the ability of a country to facilitate innovation), coming in at No. 50.
The Economic Intelligence Unit, The Economist, survyed 485 senior executives worldwide and analysed data collected between 2002 and 2006.Â
A forecast by the agency for 2007-2011 expects China to improve its rank by five positions, while India is expected to move up by two. Hence, India will give away its lead over China as an innovative country in the next five years.
The top four will maintain their positions, according to the forecast, while China will move up five places to 54th and Mexico will climb six places to 39th.