Commerce and Industry Minister Nirmala Sitharaman today said a dedicated group will be formed to identify and implement expeditiously steps government can take to accelerate further India's innovation. Addressing the function at the launch of the Global Innovation Index report 2016 in New Delhi, Mrs Sitharaman said, it is possible to do more and the country is thirsting to move forward. <br/><br/>India has jumped 15 spots to become 2nd most innovative middle income economy in the world. India has improved its innovation ranking in Global Innovation Index to reach 66th position from its last year's rank of 81st. This improvement in the rank for India comes after 5 years of continuous drop in its ranking. <br/><br/>Switzerland, Sweden, the United Kingdom, the United States of America, Finland and Singapore lead the 2016 rankings in the Global Innovation Index, released jointly by Cornell University, INSEAD, World Intellectual Property Organization at Kearney and Confederation of Indian Industry.