Global Innovation Index (GII) 2024 report

Current Context : India has ranked 39th out of 133 economies in the Global Innovation Index (GII) 2024.

• Released by:World Intellectual Property Organization (WIPO).
• Criteria for Innovation:Institutions, human capital, research, infrastructure, investment, credit, knowledge creation, diffusion, and creative outputs.

KEY FINDINGS:

• Top Performers:Switzerland (1st), followed by Sweden, US, and Singapore.
• India’s Ranking:39th globally (up from 40th in 2023), 1st among lower middle-income economies.
• India’s Strengths:Strong in ICT services exports, venture capital, and intangible asset intensity.

GII 2024 Theme: Social Entrepreneurship

• Developing innovative solutions to address social/environmental challenges without profit as the main goal.
• Global Impact:
  • Economic Contribution: ~$2 trillion to global GDP.
  • Employment: 10-11 million social enterprises, ~30 million social entrepreneurs.
  • Tackles poverty, environmental issues, and social injustice.

ABOUT WIPO

• Established:1967 as a UN specialized agency.
• Mission:Develop a fair, global IP system that promotes creativity and innovation for economic growth.
• Members:193 countries (India joined in 1975).
• Major Treaties:
  • Paris Convention (1998)
  • Berne Convention (1928)
  • Patent Cooperation Treaty (1998)
• Headquarters:Geneva, Switzerland.