• India has maintained its 40^th rank in the latest Global Innovation Index (GII) 2023, making it a leading position holder among the lower middle-income country group.
• The GII tracks the innovation ecosystem performance of 132 global economies and the most recent global innovation trends.
• The GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries.
• It is co-published annually by Cornell University, INSEAD Business School, and World Intellectual Property Organisation (WIPO).
• Top 5 rankers
  • Switzerland (for the 13^th consecutive year)
  • Sweden
  • USA
  • United Kingdom
  • Singapore

Findings about India

• The country ranked first among the 37 lower-middle group income and first among the 10 economies in Central and South America.
• It holds the record for overperforming on innovation for the 13th consecutive year.
  • Along with India, the Republic of Moldova and Vietnam have also been innovation overperformers for 13 years in a row
• India holds top rankings in key indicators, including ICT services exports (at place 5), VC received (6), graduates in science and engineering (11) and global corporate R&D investors (13).
• Other parameters where India performed fairly better include– cultural and creative services exports as percentage of trade (18th rank), intangible asset intensity (8th rank), and overall market sophistication (20th rank).
• The broad areas where a lot of improvement needs to happen are infrastructure (84th rank), business sophistication (57) and institutions (56).
  • This year, the NITI Aayog will virtually be hosting ‘the India Launch of the GII 2023’ in partnership with the Confederation of Indian Industry and the WIPO.

ABOUT WIPO

WIPO has its origins in the United International Bureaux for the Protection of Intellectual Property (BIRPI), which was established in 1893. World Intellectual Property Day is celebrated on 26th April.

• WIPO is one of the specialised agencies of United Nations created in 1967.
• Aim-to encourage creative activity, to promote the protection of intellectual property throughout the world.
• WIPO currently administers 26 international treaties.
• Members- 195 (including India since1975)
• HQ- Geneva, Switzerland.