Global Innovation Index

Why is in news? India retains 40th rank in the Global Innovation Index 2023

India retains 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization.

India has been on a rising trajectory, over the past several years in the Global Innovation Index (GII), from a rank of 81 in 2015 to 40 in 2023.

Innovation has been at the forefront of our battle against the unprecedented crisis created by the pandemic and will be pivotal in driving the country’s resilience, as enshrined in the Prime Minister’s clarion call on Atma Nirbhar Bharat.

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.

NITI Aayog has been working tirelessly to ensure the optimization of the national efforts for bringing policy-led innovation in different areas such as electric vehicles, biotechnology, nanotechnology, space, alternative energy sources, etc.

It has also played a role in expanding the innovation eco-system in states and districts. A constant thrust in monitoring and evaluating India’s position in the global rankings has been provided by the NITI Aayog, including in the GII.

The Confederation of Indian Industry (CII) has also been collaborating in India's journey towards an innovation-driven economy. 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.

About the index:

The Global Innovation Index, which is published annually, has been a leading reference for measuring an economy’s innovation performance.

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.

The GII has also been recognized by the UN Economic and Social Council in its 2019 resolution on Science, Technology and Innovation for Development as an authoritative benchmark for measuring innovation in relation to the Sustainable Development Goals (SDGs).

Indicators of the index:

Parameters for computing the index include 'institutions', 'human capital and research', 'infrastructure', 'market sophistication', 'business sophistication', 'knowledge and technology outputs' and 'create outputs'.