Global Innovation Index (GII) 2023

• 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 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.