In News:

• India has moved up to 39th place among 133 economies in the GII 2024, showcasing significant progress from its 81st position in 2015.

Key Details:

• Regional Leadership: India ranks first among the 10 economies in Central and Southern Asia, highlighting its emerging leadership in innovation within the region.
• Lower-Middle-Income Economies: India is also the top-ranked lower-middle-income economy in the GII.
• WIPO Science & Technology Ranking: India holds the 4th position in the World Intellectual Property Organization (WIPO) Science & Technology Cluster Ranking, indicating robust innovation capabilities.
• Top Science & Technology Clusters: Major Indian cities—Mumbai, Delhi, Bengaluru, and Chennai—are recognized among the world’s Top 100 S&T clusters, emphasizing urban centers' roles in fostering innovation.
• Intangible Asset Intensity: India ranks 7th globally in intangible asset intensity, reflecting a strong focus on knowledge-based assets and intellectual property.

Context and Significance of GII

• Purpose of GII: The GII evaluates innovation ecosystems of 133 economies, providing insights into trends that drive economic and social change through innovation.
• Global Leaders: The top five most innovative economies according to the GII 2024 are Switzerland, Sweden, the US, Singapore, and the UK.
• Fastest Climbers: India is among the fastest climbers in the GII over the past decade, alongside China, Turkey, Vietnam, and the Philippines.

Overview of WIPO

• Foundation and Mission: The World Intellectual Property Organization (WIPO), established in 1974 and part of the UN since then, aims to support global innovators and creators, ensuring the safe journey of their ideas to market.
• Membership: WIPO comprises 193 member states, including a diverse range of developing and developed countries, facilitating a broad exchange of intellectual property knowledge.
• Headquarters: Geneva, Switzerland.