What is the News ?

India maintains its position at the 40th rank among 132 economies in the Global Innovation Index for the year 2023..

Facts About:

• Published by the World Intellectual Property Organization (WIPO).
• Serves as a valuable tool for governments worldwide to evaluate the impact of innovation on social and economic development in their nations.
• The India Launch of GII 2023 is being virtually hosted on September 29, 2023, by NITI Aayog in collaboration with the Confederation of Indian Industry (CII) and WIPO.

Key Insights:                        

• The Global Innovation Index relies on a diverse dataset, incorporating 80 indicators from international public and private sources, offering a comprehensive view of innovation beyond conventional measures.
• Top 5 countries in the ranking include Switzerland, Sweden, the United States, the United Kingdom (4th), and Singapore (5th).
• India is recognized among the 21 economies that have consistently outperformed in innovation relative to their level of development for the 13th consecutive year.
• The report highlights India, Iran, the Philippines, Turkey, Vietnam, and Indonesia as economies within the GII top 65 that have made significant ranking improvements over the last decade.
• Within the Central and Southern Asia region, India secures top positions in categories such as Human capital and research (48th), Business sophistication (57th), and Knowledge and technology outputs (22nd).
• Prominent indicators for India encompass ICT services exports (5th), Venture capital received (6th), Graduates in science and engineering (11th), and Global corporate R&D investors (13th).