World's most innovative countries

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Bloomberg recently published the seventh edition of its annual Innovation Index that saw South Korea retain the top spot, with Israel surging several places to number five. The index—comprising 60 countries, including India—is built on the basis of their capabilities in areas such as research and development spending, patent activity, manufacturing capability and concentration of high-tech public companies.

Germany came a close second to Korea whereas Israel overtook economies, including Japan, Singapore and Sweden. The US, which didn’t figure in the top 10 last year, returned this time, ranked eighth.