While Pakistan fares badly, ranking 103 on a list of 125 nations, on CII-INSEAD Global Index of Innovation for 2011, it is included among the top 10 countries for the Innovation Efficiency sub-Index. These countries are Côte d’Ivoire, Nigeria, China, Pakistan, Moldova, Sweden, Brazil, Argentina, India, and Bangladesh.
This places Pakistan in 4th place on CII-Insead's Global innovation efficiency sub-index
, 5 places ahead of India in 9th place, according to Economic Times
India has improved its ranking in the global Innovation Efficiency Index to 9th position in 2011 from 101th last year on factors like political stability, R&D, market and business sophistication, according to a study.
Surprisingly, Pakistan was placed ahead of India at 4th position, the CII-INSEAD study said.
However, India has slipped on its ranking in the Global Innovation Index to 62nd position out of 125 countries in 2011 from 56th last year while Switzerland was at the top,
It said that a lot of Indian talent is returning home to the country and the youth in urban India are now more global than ever, "and they are quite in tune with new technologies, even ahead of the curve in many cases, as early adapters".
"Multinational corporations are making large investments in R&D outside of their headquarter countries, setting up R&D sites in low-cost emerging countries such as China and India to access global talent and take advantage of their proximity to target markets," the report said.
Indian major players such as Tata, Godrej, and Mahindras are shifting their focus towards the rapidly expanding middle-income group of customers by coming up with frugal innovations, keeping in mind the price sensitivity of Indian consumers, it said.