Global innovation Index 2023
Why In News:
- Recently, the Global Innovation Index 2023 was released by the Geneva-based World Intellectual Property Organization, in which India is ranked 40th among 132 countries.
Important point:
- India is ranked 40th out of 132 economies in the Global Innovation Index 2023 ranking published by the World Intellectual Property Organization.
- India was ranked 46th in 2021 and 81st in 2015.
- The steady improvement in GII ranking is due to greater knowledge capital investment, vibrant start-up ecosystem and amazing work done by public and private research organizations.
- All departments of the Government, including scientific departments such as the Department of Science and Technology; Along with Departments like Department of Biotechnology, Department of Space and Atomic Energy and Ministry of Electronics and IT, Department of Telecommunications, Department of Agricultural Research and Education and Department of Health Research have played an important role in enriching the national innovation ecosystem.
- NITI Aayog is working tirelessly to ensure optimization of national efforts to bring policy-led innovations in various sectors like electric vehicles, biotechnology, nanotechnology, space, alternative energy sources etc.
- This year, NITI Aayog in partnership with CII and the World Intellectual Property Organization (WIPO) is hosting the India launch of GII 2023.
India’s performance:
- India is an innovation leader in the lower middle income group.
- It is a world leader in exports of ICT services, along with top rankings on other indicators including venture capital realization value, finance for startups and scaleups, graduates in science and engineering, labor productivity growth and domestic industry diversification.
About Global Innovation Index (GII):
- The Global Innovation Index (GII) is an annual index prepared on the basis of countries’ capacity and success in innovation.
- A large number of countries use the GII to assess and improve their innovation ecosystems and use the GII as a reference in economic planning and policies.
- The GII has been recognized by the United Nations Economic and Social Council as an official benchmark in the 2019 resolution on Science, Technology and Innovation for Development to measure innovation in relation to the Sustainable Development Goals (SDGs).
With reference to the World Intellectual Property Organization (WIPO):
- WIPO is the global platform for intellectual property (IP) services, policy, information and cooperation.
- It is a self-financing agency of the United Nations with 193 member states.
- Its purpose is to lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.
- Its mandate, governing bodies and procedures are set out in the WIPO Convention, which established WIPO in the year 1967.
Source – PIB