Context: India has maintained its 40th position out of 132 economies in the recently published Global Innovation Index (GII) 2023 by the World Intellectual Property Organization (WIPO).

• 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 September 2023. 

Global Innovation Index (GII) 2023

• The Global Innovation Index is a leading reference for measuring an economy’s innovation ecosystem performance. 

• Published annually, it is also a valuable benchmarking tool used by policymakers, business leaders, and other stakeholders to assess progress in innovation over time.

• The GII 2023 is the 16th edition of the rankings.

• It is published by the World Intellectual Property Organization (WIPO).

• For the 13th year in a row, Switzerland is the most innovative economy in 2023 followed by Sweden, the United States, the United Kingdom and Singapore.

• From a rank of 81 in 2015, India has risen to 40 in 2023. 

• The consistent improvement in the GII ranking is owing to the immense knowledge capital, the vibrant start-up ecosystem, and the amazing work done by the public and private research organizations. 

• The GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries. 

• Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo.

Key findings

• 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 (5th).

• 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 outputs (22nd).

• Strong indicators include ICT services exports (5th), Venture capital received (6th), Graduates in science and engineering (11th) and Global corporate R&D investors (13th).

Key facts about the World Intellectual Property Organisation

• It works with the vision of encouraging creative activity and promoting the protection of Intellectual Property throughout the world.

• WIPO is one of the 15 specialised agencies of the United Nations.

• Currently, there are 193 members of the World Intellectual Property Organisation.

• Headquarter: Geneva.