Global Innovation Index 2023 Overview, India Rank and Global Trends

India has secured the 40th position out of 132 economies in the Global Innovation Index (GII) 2023, as reported by the World Intellectual Property Organization (WIPO). Over the years, India’s performance in the GII has seen a remarkable ascent, progressing from a rank of 81 in 2015 to the current 40th position.

Global Innovation Index 2023 India Rank

India continues to hold its 40th position in the latest Global Innovation Index (GII) 2023, released by the World Intellectual Property Organization (WIPO). This places India at the forefront among lower middle-income nations. Furthermore, India secured the top spot within the lower-middle-income category and stood as the leader among the ten economies in Central and South America.

The GII report highlights India’s remarkable consistency in surpassing innovation expectations for the 13th consecutive year. India’s excellence extends to various key indicators, including ICT services exports (ranking 5th), venture capital received (6th), graduates in science and engineering (11th), and global corporate R&D investors (13th).

India’s ascent in the GII rankings is noteworthy, considering its position at 81st in 2015. Over the past eight years, India has demonstrated significant progress in fostering innovation.

Global Innovation Index Overview

The Global Innovation Index (GII), published annually, serves as a prominent benchmark for evaluating an economy’s innovation performance. Numerous countries rely on the GII to evaluate and enhance their innovation ecosystems, incorporating it into their economic strategies and policies. Additionally, the United Nations Economic and Social Council, through its 2019 resolution on Science, Technology, and Innovation for Development, officially recognized the GII as an authoritative reference for measuring innovation’s alignment with the Sustainable Development Goals (SDGs). This acknowledgment underscores the GII’s pivotal role in assessing innovation’s contribution to sustainable development on a global scale.

Global Innovation Index Indicators

The index computation involves assessing various parameters, including:

1. Institutions: Evaluation of governance and regulatory structures.
2. Human Capital and Research: Examination of education and research capabilities.
3. Infrastructure: Assessment of basic physical and digital infrastructure.
4. Market Sophistication: Analysis of market dynamics and maturity.
5. Business Sophistication: Evaluation of the business environment and innovation capacity.
6. Knowledge and Technology Outputs: Measurement of knowledge creation and technology outputs.
7. Creative Outputs: Assessment of creative and cultural outputs.

Global Innovation Index Details

The Global Innovation Index 2023 unveils several critical insights:

• Varied Investment in Innovation: Science and innovation investment exhibited mixed performance in 2022, marked by uncertainty stemming from challenges and a downturn in innovation finance.
• Technological Progress: Significant advancements in information technology, healthcare, transportation, and energy continue to create new opportunities for global development.
• Technology Adoption: Increased technology adoption leads to wider availability of safe sanitation and connectivity, along with surging electric vehicle adoption and growing interest in automation.
• Socioeconomic Impact: The socioeconomic influence of innovation remains relatively modest, marked by fluctuations in labor productivity, varying life expectancies, and ongoing challenges in addressing carbon emissions.

Collaborative Innovation Efforts

The Confederation of Indian Industry (CII) has played a pivotal role in India’s pursuit of becoming an innovation-driven economy. In partnership with CII and the World Intellectual Property Organization (WIPO), NITI Aayog is virtually hosting the India Launch of GII 2023 on September 29, 2023.

Top Innovative Economies in 2023

Switzerland maintains its position as the most innovative economy for the 13th consecutive year in 2023. Sweden, the United States, the United Kingdom, and Singapore follow closely. Denmark and the Republic of Korea continue their strong presence in the top 10, with France advancing one spot and Japan remaining at 13th place. Israel reclaims its spot in the top 15 at 14th.

Notable Regional and Global Trends

China’s Continuing Influence

China, despite a slight drop in ranking, holds a prominent position in innovation, ranking 12th in 2023. It stands as the sole middle-income economy in the top 30, maintaining leadership in the upper middle-income category.

Nordic and Baltic Progress

All eight Nordic and Baltic economies have improved their rankings, with Estonia securing a place in the top 15 and Norway re-entering the top 20.

Middle East and Latin America

The United Arab Emirates remains steady at 32nd place, while Saudi Arabia and Qatar enter the top 50. Brazil surpasses Chile as the most innovative economy in Latin America and the Caribbean.

South and Southeast Asia

Thailand and Vietnam solidify their positions in the top 50, with Indonesia making rapid progress toward the top 60. These countries, along with China, India, Iran, the Philippines, Turkey, and Vietnam, represent middle-income economies that have significantly enhanced their GII rankings over the past decade.

Africa’s Advancement

In Sub-Saharan Africa, nine out of 26 economies have improved their rankings, with South Africa breaking into the top 60 and Rwanda leading among low-income nations.

Global Innovation Index 2023 UPSC

India’s ascent to the 40th position in the Global Innovation Index 2023 reflects its consistent commitment to innovation and development over the years. This achievement not only places India at the forefront among lower middle-income nations but also underscores its global competitiveness. The GII’s recognition by the United Nations for measuring innovation’s alignment with Sustainable Development Goals highlights its significance. While India has made remarkable progress, the journey towards innovation-driven growth continues. Collaboration, investments in R&D, education, and a conducive business environment will be key to sustaining and improving this ranking. India’s rise is not just a testament to its potential but also a call for continued efforts to foster innovation for a brighter future.

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