India has higher barriers to entry in damn near everything because of the "Licence Raj" and <i>insane </i> employment legislation. Its almost impossible to fire people once your enterprise has more than 100 employees.
China has been experiencing the demographic dividend (falling birthrate means the dependency ratio drops, and you get a bulgein the population pyramid in the working age population, more taxes, fewer pensions and childcare)
Some decent comparisons (size, population, economies, demographics) are:
Finland/Sweden/Denmark to Minnesota: single digit millions, high levels of education, good technology base, lots of forests, water, and timber, homogeneous population (with recent immigration base). [Norway is similar but distorted by its huge oil wealth]
France to California: similar sized economies and land area, economies include tech/science, manufacturing, shipping, and agriculture, heavyweights in their region, diverse populations (with some tension, little integration).
Russia - Great Lakes region: great universities, high levels of education, but economies not performing like they used to due to deindustrialization. Exports scientists and engineers to more economically vibrant regions. [Also distorted by Russia's oil wealth]
Not sure about what to compare China/India/Korea to. China-Sun Belt might work (recent boom fueled by investment in logistics, infrastructure, distribution; manufacturing as opposed to high tech/innovation; real estate boom; success due to shift in macroeconomic values as much as anything else)
The Upper Midwest-Eastern Europe (Romania, Bulgaria, etc) might be a decent match too - slow economy due to agricultural focus, shrinking population due to few economies, etc.
[GAH! Do you see why I didn't want to respond to any of the comments!]
based on the chart you are dead wrong -- Russia was and still is one of the key competitors of US in innovation, albeit in the sectors outside of the semiconductors and IT (which I assume you know best). Russia is an innovator in space, weapons, nanotech and other industries, so i wasn't surprised to see them in the upper 10%. I must admit seeing them at #1 was surprising.
Going from right to left, Japan certainly makes sense as an innovator (e.g. manufacturing), Korea (electronics), Nordic countries(telcom), etc.
On the other hand, countries from Peru and on down are hardly innovators on anyone's list.