About the Index
- Global Innovation Index (GII) is co-published annually by Cornell University, INSEAD Business School, and the World Intellectual Property Organization (WIPO), a specialized agency of the United Nations.
- GII ranks global economies according to their innovation capabilities, using 80+ indicators.
- The metrics include institutions, human capital and research, infrastructure, market sophistication and business sophistication, knowledge and technology outputs and creative outputs.
- Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo.
Why in News?
- India has retained 40th rank out of 132 economies in the Global Innovation Index 2023 rankings published by the World Intellectual Property Organization.
- India has been on a rising trajectory, over the past several years in the Global Innovation Index, from a rank of 81 in 2015 to 40 in 2023.
- 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.
- The GII is a reliable tool for governments across the world to assess the innovation-led social and economic changes in their respective countries. Over the years, the GII has established itself as a policy tool for various governments and helped them to reflect upon the existing status quo.
- Apart from India, only four other middle-income economies are among the top 40, namely, China (12th), Malaysia (36th), Bulgaria (38th), and Türkiye (39th).
- India was also highlighted as the top innovation economy among the lower-middle-income countries, followed by Vietnam and Ukraine.