paragraph_text: Economic liberalisation, begun in 1991, has caused India to become a fast growing major economy and a newly industrialised country.  Its gross domestic product ranks sixth in the world in market exchange rates and third in purchasing power parity.  Its per capita income ranks 133rd and 116th in the two measures.   India faces challenges of poverty, corruption, malnutrition, and inadequate public healthcare.  A nuclear weapons state and regional power, it has the second largest active military in the world and ranks high in military expenditure. India is a secular, federal republic, governed in a democratic parliamentary system, and administered in 29 states and seven union territories.  A pluralistic, multilingual and multi-ethnic society, India is home to 1.3 billion people.  It is also home to a high diversity of wildlife in a variety of protected habitats.

paragraph_text: Fears in the Italian electorate of a possible Communist takeover proved crucial for the first universal suffrage electoral outcome on 18 April 1948, when the Christian Democrats, under the leadership of Alcide De Gasperi, obtained a landslide victory. Consequently, in 1949 Italy became a member of NATO. The Marshall Plan helped to revive the Italian economy which, until the late 1960s, enjoyed a period of sustained economic growth commonly called the "Economic Miracle". In 1957, Italy was a founding member of the European Economic Community (EEC), which became the European Union (EU) in 1993.

paragraph_text: The Statistical Classification of Economic Activities in the European Community, commonly referred to as NACE (for the French term ""nomenclature statistique des activités économiques dans la Communauté européenne""), is the industry standard classification system used in the European Union. The current version is revision 2 and was established by Regulation (EC) No 1893/2006. It is the European implementation of the UN classification ISIC, revision 4.

paragraph_text: The Netherlands has a developed economy and has been playing a special role in the European economy for many centuries. Since the 16th century, shipping, fishing, agriculture, trade, and banking have been leading sectors of the Dutch economy. The Netherlands has a high level of economic freedom. The Netherlands is one of the top countries in the Global Enabling Trade Report (2nd in 2016), and was ranked the fifth most competitive economy in the world by the Swiss International Institute for Management Development in 2017. In addition, the country was ranked the second most innovative nation in the world in the 2018 Global Innovation Index.

paragraph_text: Switzerland has an overwhelmingly private sector economy and low tax rates by Western World standards; overall taxation is one of the smallest of developed countries. Switzerland is a relatively easy place to do business, currently ranking 20th of 189 countries in the Ease of Doing Business Index. The slow growth Switzerland experienced in the 1990s and the early 2000s has brought greater support for economic reforms and harmonization with the European Union. According to Credit Suisse, only about 37% of residents own their own homes, one of the lowest rates of home ownership in Europe. Housing and food price levels were 171% and 145% of the EU-25 index in 2007, compared to 113% and 104% in Germany.

paragraph_text: Switzerland voted against membership in the European Economic Area in a referendum in December 1992 and has since maintained and developed its relationships with the European Union (EU) and European countries through bilateral agreements. In March 2001, the Swiss people refused in a popular vote to start accession negotiations with the EU. In recent years, the Swiss have brought their economic practices largely into conformity with those of the EU in many ways, in an effort to enhance their international competitiveness. The economy grew at 3% in 2010, 1.9% in 2011, and 1% in 2012. Full EU membership is a long-term objective of some in the Swiss government, but there is considerable popular sentiment against this supported by the conservative SVP party. The western French-speaking areas and the urban regions of the rest of the country tend to be more pro-EU, however with far from any significant share of the population.

paragraph_text: The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the most competitive in the world, while ranked by the European Union as Europe's most innovative country. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin (by GDP – per capita). In 2007 the gross median household income in Switzerland was an estimated 137,094 USD at Purchasing power parity while the median income was 95,824 USD. Switzerland also has one of the world's largest account balances as a percentage of GDP.

paragraph_text: Switzerland has one of the best environmental records among nations in the developed world; it was one of the countries to sign the Kyoto Protocol in 1998 and ratified it in 2003. With Mexico and the Republic of Korea it forms the Environmental Integrity Group (EIG). The country is heavily active in recycling and anti-littering regulations and is one of the top recyclers in the world, with 66% to 96% of recyclable materials being recycled, depending on the area of the country. The 2014 Global Green Economy Index ranked Switzerland among the top 10 green economies in the world.

paragraph_text: The establishment of the Swiss Confederation is traditionally dated to 1 August 1291, which is celebrated annually as the Swiss National Day. The country has a long history of armed neutrality—it has not been in a state of war internationally since 1815—and did not join the United Nations until 2002. Nevertheless, it pursues an active foreign policy and is frequently involved in peace-building processes around the world. In addition to being the birthplace of the Red Cross, Switzerland is home to numerous international organizations, including the second largest UN office. On the European level, it is a founding member of the European Free Trade Association, but notably it is not part of the European Union, nor the European Economic Area. However the country does participate in the Schengen Area and the EU's single market through a number of bilateral treaties.

paragraph_text: Agricultural protectionism—a rare exception to Switzerland's free trade policies—has contributed to high food prices. Product market liberalisation is lagging behind many EU countries according to the OECD. Nevertheless, domestic purchasing power is one of the best in the world. Apart from agriculture, economic and trade barriers between the European Union and Switzerland are minimal and Switzerland has free trade agreements worldwide. Switzerland is a member of the European Free Trade Association (EFTA).

paragraph_text: In 1986, Portugal joined the European Economic Community (EEC) that later became the European Union (EU). In the following years Portugal's economy progressed considerably as a result of EEC/EU structural and cohesion funds and Portuguese companies' easier access to foreign markets.

paragraph_text: The 2011 World Wealth Report ranks economic activity in New Delhi at 39, but overall the capital is ranked at 37, above cities like Jakarta and Johannesburg. New Delhi with Beijing shares the top position as the most targeted emerging markets retail destination among Asia-Pacific markets.

paragraph_text: The evolution of the Greek economy during the 19th century (a period that transformed a large part of the world because of the Industrial Revolution) has been little researched. Recent research from 2006 examines the gradual development of industry and further development of shipping in a predominantly agricultural economy, calculating an average rate of per capita GDP growth between 1833 and 1911 that was only slightly lower than that of the other Western European nations. Industrial activity, (including heavy industry like shipbuilding) was evident, mainly in Ermoupolis and Piraeus. Nonetheless, Greece faced economic hardships and defaulted on its external loans in 1826, 1843, 1860 and 1894.

paragraph_text: Joseph Gerard Altonji (born 1953) is an American labour economist and the Thomas DeWitt Cuyler Professor of Economics at Yale University. His fields of interest include macroeconomics and applied econometrics and in particular labour economics, being ranked as one of the foremost labour labour economists worldwide. In 2018, his contributions to the analysis of labour supply, family economics and discrimination were rewarded with the IZA Prize in Labor Economics.

paragraph_text: A developed country with an advanced, high-income economy and high living standards, Estonia ranks very high in the Human Development Index, and performs favourably in measurements of economic freedom, civil liberties, education, and press freedom (third in the world in 2012). Estonia has been among the fastest growing economies in the European Union and is a part of the World Trade Organization and the Nordic Investment Bank. Estonia is often described as one of the most internet-focused countries in Europe.

paragraph_text: The Instituto de Economia Agrícola (IEA - Agricultural Economics Institute), linked to the Agência Paulista de Tecnologia dos Agronegócios (APTA) is a major public scientific research institute on economics and statistics applied to agricultural and farming questions, established in São Paulo, Brazil. The aim to provide technical information to support agribusiness decision makers and governmental policies.

paragraph_text: The Greek economy is classified as advanced and high-income. Greece was a founding member of the Organisation for Economic Co-operation and Development (OECD) and the Organization of the Black Sea Economic Cooperation (BSEC). In 1979 the accession of the country in the European Communities and the single market was signed, and the process was completed in 1982. Greece was accepted into the Economic and Monetary Union of the European Union on 19 June 2000, and in January 2001 adopted the Euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachma to the Euro. Greece is also a member of the International Monetary Fund and the World Trade Organization, and is ranked 24th on the KOF Globalization Index for 2013.

paragraph_text: The European Economic Community (EEC) was a regional organisation which aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957. Upon the formation of the European Union (EU) in 1993, the EEC was incorporated and renamed as the European Community (EC). In 2009 the EC's institutions were absorbed into the EU's wider framework and the community ceased to exist.

paragraph_text: The Review of Income and Wealth is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the International Association for Research in Income and Wealth. It was established in 1951 and published annually until 1966, when it became a quarterly. Its aim is to provide a venue for research on income and wealth in terms of national and international, economic and social accounting. Its scope includes not only research on the "development of concepts and definitions for measurement and analysis", the development and "integration of systems of economic and social statistics", and "related methodological problems", but also more applied areas such as to allow international comparisons and to understand the use economic and social accounting for "budgeting and policy analysis" in different economies. Its current editors are Conchita D'Ambrosio (University of Luxembourg), Robert J. Hill (University of Graz), and Stephan Klasen (University of Göttingen), and its previous editors have included Erik Lundberg, Simon Kuznets, Richard Stone, Raymond Goldsmith, Phyllis Deane, and Colin Clark.

paragraph_text: The economy of India is an underdeveloped mixed economy. It is the world's seventh - largest economy by nominal GDP and the third - largest by purchasing power parity (PPP). The country ranks 141st in per capita GDP (nominal) with $1723 and 123rd in per capita GDP (PPP) with $6,616 as of 2016. After 1991 economic liberalisation, India achieved 6 - 7% average GDP growth annually. In FY 2015 India's economy became the world's fastest growing major economy surpassing China. The long - term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

Question: How did the jurisdiction which the Statistical Classification of Economic Activities in the European Community applies to, rank Switzerland's economy?
Answer: Europe's most innovative country