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India is the best country in the region to do business, according to the latest Global Innovation Index, but Pakistan is a long way behind.
The index ranks countries based on a range of factors, including patent applications, scientific and scientific journal articles, and gross fixed capital formation, and Pakistan came in at No.
88 out of 180 countries, the Daily Pakistan reports.
India, on the other hand, came in at No.
40, and Pakistan at No.
7 in the region.
"Pakistan ranked 88th globally and 7th regionally in the Global Innovation Index 2023," the country's prime minister said in a statement.
"This stark contrast underscores the urgent need for transformative strategies and concerted efforts to propel Pakistan's innovation ecosystem into a new era of growth and competitiveness."
According to the index, Pakistan's main industry, textile, accounts for just 1% of the country's GDP, and its exports make up just 10.5% of the country's GDP.
"One of the major reasons for Pakistan's low exports is its closed economy," the country's prime minister said.
"This further highlights the structural weaknesses in the economy that impedes the growth of domestic industry which is vital for economic growth."
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