Global Innovation Index 2023 (GII) | PWOnlyIAS 2023

Context:

• India has retained its 40th spot in the latest Global Innovation Index 2023 released by the World Intellectual Property Organisation (WIPO).

About Global Innovation Index: The Global Innovation Index is a leading reference for measuring an economy’s innovation ecosystem performance.

• The GII 2023 reveals the ranking of 2023, most innovative economies in the world amongst 132 economies and localizes the top 100 science and technology innovation clusters.
• It used 80 indicators to track global innovation trends
• Global Trends: 
  • Switzerland (1st place), followed by Sweden, United States, United Kingdom and Singapore are the world’s top innovative economies in 2023. 

Top ten countries In Global Innovation Index 2023

Here is the list of top ten countries listed in the Global Innovation Index 2023

• Switzerland
• Sweden
• United States of America
• United Kingdom
• Singapore
• Finland
• Netherlands
• Germany
• Denmark, and
• Republic of Korea

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• India’s Performance In Global Innovation Index 2023: 
  • India has been on a rising trajectory, in the Global Innovation Index (GII), from a rank of 81 in 2015 to 40 in 2023.
    • Reason for Improved Ranking: 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
  • India holds top rankings in key indicators such as:
    • Information and Communication Technology (ICT) services exports (5th place),
    • venture capital (VC) received (6th place), 
    • graduates in science and engineering (11th place) 
    • global corporate Research and Development (R&D) investors (13th place).
  • India also retained its top position in the lower-middle-income group and the Central and South Asian region.
  • The world’s five biggest science and technology clusters are all located in East Asia, including the Bengaluru, Delhi, Chennai and Mumbai cluster.