India retains 40th rank out of 132 economies in the Global Innovation Index 2023
- Global Innovation Index 2023 is published by the World Intellectual Property
- It is a reliable tool for governments across the world to assess the innovation-led social
and economic changes in their respective countries.
- This year, the NITI Aayog, in partnership with the CII and the World Intellectual Property
Organisation (WIPO), is hosting, virtually, the India Launch of the GII 2023 on 29th
- The Global Innovation Index is built on a rich dataset – the collection of 80 indicators
from international public and private sources – going beyond the traditional measures of
innovation since the definition of innovation has broadened.
- Top 5 countries: Switzerland, Sweden ,United States United Kingdom (4th) and Singapore
- It listed India as among the 21 economies that outperformed for a 13th consecutive year
on innovation relative to level of development.
- It states that India, Iran, Philippines, Turkiye, Vietnam and Indonesia are among the
economies within the GII top 65 that climbed fastest in the ranking over the last decade.
- India holds top ranking within the Central and Southern Asia region for Human capital
and research (48th), Business sophistication (57th) and Knowledge and technology
- Strong indicators include ICT services exports (5th), Venture capital received (6th),
Graduates in science and engineering (11th) and Global corporate R&D investors (13th)