Page 276 - ES 2020-21_Volume-1-2 [28-01-21]

Innovation: Trending Up but needs thrust, especially from the Private Sector 259

Figure 22: Performance of Top 10 Economies on Market Sophistication Pillar

Innovation Input Sub-Index 2020 Market Sophistication Pillar 2020
Pillar - Market Sophistication Sub-Pillar: Credit
0 UK US 0 UK CA
US
CH JP CA JP
20 FR GR 20 CH
IN 31 GR
40 40 FR
Rank IT Rank
60 60 IN 60
80 BR 80 IT
100 100 BR
3.8 4 4.2 4.4 4.6 4.8 3.8 4 4.2 4.4 4.6 4.8
Log 10 (GDP per capita, PPP Current International $) Log 10 (GDP per capita, PPP Current International $)
Market Sophistication Pillar 2020 Market Sophistication Pillar 2020
Sub-Pillar: Investment Sub-Pillar: Trade, Competition & Market Scale
0 0
UK CA CH JP UK US
20 US FR GR
FR 10 CA
40 IN 15
Rank JP Rank 20 IT
60 IN 59 CH

80 IT GR 30 BR
BR
100 40
3.8 4 4.2 4.4 4.6 4.8 3.8 4 4.2 4.4 4.6 4.8
Log 10 (GDP per capita, PPP Current International $) Log 10 (GDP per capita, PPP Current International $)

Source: The World Bank and GII database
Note: Highest possible rank is 1. Figure shows India’s innovation rank. US = USA, CH = China, JP = Japan, GR =
Germany, IN=INDIA, UK = United Kingdom, FR = France, IT = Italy, BR = Brazil and CA = Canada.

8.29 Figure 23 compares India’s performance on the business sophistication pillar w.r.t. the
other largest economies. India performs above expectation for its level of development on the
innovation linkages sub-pillar while it performs below expectation for the business sophistication
pillar and its other two sub-pillars. Amongst the top ten economies, India ranks lowest on the
business sophistication pillar and knowledge worker sub-pillar. It ranks second lowest, after
Italy, on knowledge absorption sub-pillar. India ranks third lowest – after Brazil and China, on
the innovation linkages sub-pillar.