Major News and Events of 18 August 2016
What Happened on 18 August 2016
India declared the 66th most innovative economy
Chinese smartphone-maker Huawei would soon be manufacturing handsets in India. Details regarding the same are likely to be announced within the next month. Peter Zhai, President for Huawei India Consumer Business Group was quoted saying that the company has all the required licences for manufacturing smartphones in the nation. He also informed about Huawei's plans of increasing its presence across 50,000 stored by the end of 2016.
According to a new report by the UN World Intellectual Property Organisation(WIPO), India has jumped 15 places from 81st last year to 66th this year when it comes to getting listed among countries with the most innovative economies on a global scale. Additionally, India also ranks among the top 50 economies overall on the basis of two pillars, including Market sophistication, on which its ranks 33rd globally, and Technology, on which it has been successful in getting placed on the 43rd position.