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Global Innovation Index 2023

Why is it in the news?

  • India retains its 40th rank out of 132 economies in the Global Innovation Index 2023.
  • Switzerland secured the top rank in the Global Innovation Index, followed by Sweden and the USA.

More about the news

  • India’s performance in the GII has been improving, rising from a rank of 81 in 2015 to 40 in 2023.
  • Only four other middle-income economies are among the top 40, including China (12th), Malaysia (36th), Bulgaria (38th), and T√ľrkiye (39th).
  • India was listed among the 21 economies that consistently outperformed in innovation relative to their level of development.
  • Apart from infrastructure, India excelled in all other criteria within the Central and South Asian region.
  • India’s improved ranking is attributed to its knowledge capital, vibrant startup ecosystem, and contributions from public and private research organizations.
  • Various government departments, including the Department of Science and Technology, Department of Biotechnology, Department of Space, and Department of Atomic Energy, played significant roles in enriching the National Innovation Ecosystem.
  • The Atal Innovation Mission and NITI Aayog have also contributed to expanding the innovation ecosystem.
About GII
  • The Global Innovation Index project was launched by Soumitra Dutta in 2007. WIPO began co-publishing the GII in 2012.
  • The Global Innovation Index, which is¬†published annually, has been a¬†leading reference for measuring an economy‚Äôs innovation performance.
  • A large number of countries use the GII to¬†assess and improve their innovation ecosystems¬†and use the GII as a reference in economic plans and/or policies.
  • 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).
  • Parameters for computing the index include ‘institutions’, ‘human capital and research’, ‘infrastructure’, ‘market sophistication’, ‘business sophistication’, ‘knowledge and technology outputs’ and ‘create outputs’.

Significance of GII

  • The Global Innovation Index serves as a reliable tool for governments worldwide to assess the impact of innovation on their countries’ social and economic changes.
  • It has become a policy tool for governments, helping them evaluate their innovation status and make informed decisions.
World Intellectual Property Organization (WIPO)
  • WIPO is the global forum for intellectual property policy, services, information, and cooperation.
  • It became a specialized agency of the United Nations (UN) in 1974.
  • WIPO is headquartered in Geneva.

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