According to the Economic Survey’s 2014-15 report, India positions lower than most BRICS (Brazil, Russia, India, China, and South Africa) countries in terms of Innovation.
“As indicated by the Global Competitiveness Report 2014-15, India’s ability for innovation has been lower than that of many nations like the US, UK, South Korea, and even different BRICS nations except Russia.”.
According to the report, India got 48th rank in terms of innovation with a score of 4.0.
The report ranked China 40th with a score of 4.2 while Brazil 44th and Russia 66th with 4.1 and 3.8 scores respectively.
India is far beneath China when it comes to organization’s spending on Research & Development (R&D), the study said.
“India scores better or is equivalent to other BRICS only in terms of accessibility of researchers and engineers,” it added.
