Context: Recently, India has climbed 42 positions in the Global Innovation Index over the past nine years, now ranking first among lower-middle-income economies and 39th globally. 

• This improvement is attributed to Prime Minister Narendra Modi's leadership and the country's focus on fostering innovation. 

• Major cities like Mumbai, Delhi, Bengaluru, and Chennai are among the world's top 100 S&T clusters.

Global Innovation Index (GII)

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

• Co-published by – WIPO, Cornell University and INSEAD Business School.

• Criteria to measure innovation include institutions, human capital and research, infrastructure, credit, investment, linkages; creation, absorption and diffusion of knowledge; and creative outputs.

• GII 2024 Theme: Highlights the growing significance of social entrepreneurship.

Key findings 

• Switzerland maintained its top position, followed by Sweden, US, and Singapore.

• India rises to 39th position (from 40th position in 2023) among 133 global economies. 

• India ranks first among lower middle-income economies and in Central and Southern Asia region for knowledge and technology outputs, creative outputs, institutions, and business sophistication. 

• India's strengths lie in key indicators like ICT services exports, venture capital received, and intangible asset intensity.

• GII 2024 theme highlights the growing significance of social entrepreneurship.

• Social Entrepreneurship is the process of developing and implementing innovative organizational models to address social and/or environmental challenges, without profit as primary purpose. 

Key indicators

• ICT services exports: India ranks 1st globally.

• Venture capital received: India’s start-up ecosystem secures a strong position.

• Unicorn companies: India ranks 8th globally.

Significance of GII

• Economic Contribution

• Global GDP: Approximately $2 trillion.

• Employment Creation

• Social Enterprises: Estimated 10-11 million.

• Social Entrepreneurs: Around 30 million.

• Sustainable Livelihoods: Helps millions build sustainable livelihoods.

• Social Impact

• Poverty: Tackles poverty.

• Environmental Devastation: Addresses environmental devastation.

• Racial and Social Injustice: Combats racial and social injustice.

Challenges

• Low R&D spending: India needs to increase research and development (R&D) investments.

• Manufacturing innovation: The manufacturing sector still faces innovation challenges.

• Infrastructure: Gaps in innovation infrastructure remain a hurdle to growth.

About WIPO (HQ: Geneva, Switzerland)

• Genesis: Specialized agency of United Nations, established in 1967.                                 

• Objective: Dedicated to developing a balanced and accessible international Intellectual Property (IP) system which rewards creativity, stimulates innovation and contributes to economic development.

• Membership: 193 members (India is a member since 1975)

• Major Treaties: India is a member of all three treaties. 

1. Paris Convention for the Protection of Industrial Property (1998)

2. Berne Convention for the Protection of Literary and Artistic Works (1928)

3. Patent Cooperation Treaty (1998)