Nine new innovation centres were opened in the country during the period, taking the total number of innovation centres to 25. The US leads the list with 146 centres, followed by Britain with 29 and India is at the third place with 24 centres.
The report said there has been noticeable activity in tier-II cities when it comes to innovation, and added that apart from Pune, which already existed on the global map, Jaipur has also entered the list with two new centres.
The research, done by Capgemini Consulting's Digital Transformation Institute in collaboration with Fahrenheit 212 and in partnership with Brian Solis of Altimeter said efforts taken by the government are the prime moving factor for the emergence of the country in the list.
"This is due in part to the government and other public sector initiatives that seek to establish India as a digitally empowered society and nurture innovation," it said.
Jaipur, Pune and Hyderabad each welcomed two new centres involving partnerships with the government during the March-October period, it said.
The number of active incubators in the country increased from 40 per cent to 140, with a bulk 66 per cent of them in tier-II and tier-III centres.
Global names, including Cisco, Qualcomm Technologies, general Electric 3M and London-based Internet of things consortium Hypercat have a presence in the country today, the report said.
The footprint in smaller cities was attributed to the IoT policy for 2016-2020 and the government's startup India initiative launched early in 2016.
With a presence in Bengaluru, Hyderabad, Jaipur and Pune, the country accounts for 27 per cent of Asia's new innovation centres and is home to a tenth of new global innovation centres.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.