Global Innovation Index 2023
Source: PIB
GS II: Economy
Overview
- News in Brief
- Global Innovation Index 2023
- About Global Innovation Index
Why in the News?
India retains 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization.
News in Brief
- 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.
- All Departments of the Government have played a pivotal role in enriching the National Innovation Ecosystem.
- Most importantly, the Atal Innovation Mission has played a major role in expanding the Innovation ecosystem.
- NITI Aayog has been working tirelessly to ensure the optimization of the national efforts for bringing policy-led innovation in different areas
Global Innovation Index 2023
India in the Index
- India maintains its 40th position overall.
- It takes the helm in the lower middle-income group.
- India holds top rankings in key indicators, including
- ICT services exports (at place 5)
- VC received (6)
- Graduates in science and engineering (11)
- Global corporate R&D investors (13).
- Other parameters where India performed better include- cultural and creative services exports as a percentage of trade (18th rank), intangible asset intensity (8th rank), and overall market sophistication (20th rank).
- Areas where Improvement needs to happen are infrastructure (84th rank), business sophistication (57) and institutions (56).
Global performers
- Switzerland ranks 1st in the Innovation Index 2023.
- It is followed by Sweden 2nd, United States 3rd, United Kingdom 4th and Singapore 5th.
- China, Turkey, India, Vietnam, the Philippines, Indonesia and the Islamic Republic of Iran are the middle-income economies making the most headway in innovation over the last decade.
- China is the sole middle-income economy within the GII top 30.
- Guinea, Mali, Burundi, Niger and Angola are the lowest-ranking countries.
- The world’s five biggest science and technology clusters are all located in East Asia.
- Tokyo–Yokohama is the biggest S&T cluster globally, Cambridge the most S&T-intensive.
- São Paulo (Brazil); Bengaluru, Delhi, Chennai and Mumbai (India); Tehran (Islamic Republic of Iran); Istanbul and Ankara (Türkiye); and Moscow (Russian Federation) are the only middle-income economy clusters outside China.
About Global Innovation Index
- The aim of the Global Innovation Index is to provide insightful data on innovation and, in turn, to assist economies in evaluating their innovation performance and making informed innovation policy considerations.
- It is published by Cornell University, INSEAD, and the World Intellectual Property Organization, in partnership with other organisations and institutions (The index was started in 2007 by INSEAD and World Business British magazine)
- How it calculated?
- Computed by taking a simple average of the scores in two sub-indices, the Innovation Input Index and Innovation Output Index, which are composed of five and two pillars respectively.
- Their score is calculated by the weighted average method.
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