India retains its 40th position in the Global Innovation Index 2023, thanks to its robust start-up ecosystem, knowledge capital, and contributions from public and private research organisations, and maintains its top position in the lower-middle-income group and Central and South Asian region.The Global Innovation Index, published annually, is a crucial tool for measuring an economy's innovation ecosystem performance and serves as a benchmark for policymakers, business leaders, and other stakeholders to evaluate innovation progress. To encourage innovation and creativity for a better and more sustainable future, WIPO directs the creation of a robust and efficient global intellectual property ecosystem.
The Global Innovation Index (GII), a report by the WIPO, ranks 132 economies on their innovation capabilities. .Switzerland has been the most innovative economy for 13 consecutive years, followed by Sweden, the United States, the United Kingdom, and Singapore in the Global Innovation Index 2023 rankings. Sweden has surpassed the United States to second place, while Singapore has entered the top five and is the leading economy among the South East Asia, East Asia, and Oceania (SEAO) region.China ranks 12th among middle- and lower-middle-income economies
The GII 2023 launch event featured dignitaries like Shri Suman Bery, Dr. V.K. Saraswat, Shri BVR Subrahmanyam, Daren Tang, Dr. Sacha Wunsch-Vincent, Professor Rishikesha Krishnan, and Mr. Alok Nanda. Dr. Wunsch-Vincent praised India's data-driven innovation progress and effective policies, positioning the nation for a promising future.
The National Innovation Ecosystem has been significantly enhanced by the government's departments like Science and Technology, Biotechnology, and Space, and the Atal Innovation Mission has also played a crucial role in this expansion.The NITI Aayog unveiled India's Global Innovation Index 2023 in Geneva, highlighting the country's impressive rise from 81st in 2015 to 40th among 132 economies, a testament to its commitment to innovation and its steadfast rise from 81st in 2015.
India's steady improvement in the GII rankings—from 81st in 2015 to 40th in 2018—aligns with Atma Nirbhar Bharat's goal of self-reliance via innovation and places first in innovation performance among 37 lower-middle-income nations as well as Central and Southern Asia. India has excelled in market sophistication, knowledge outputs, and technology outputs for 13 years in a row, maintaining its "innovation achiever" title. The nation also takes first place in the indicator "Domestic market scale, bn PPP$" and places in the top 10 in six other categories.
India comes in at number 35 in the world for innovation outputs, number 11 for higher graduate science and engineering, number 9 for startup finance recognition, and number 6 for venture capital performance. India is ranked 20th in the H-index for citable papers, 28th in origin-based patents, and 10th in the domestic industry diversification index. India ranks 8th in the intensity of intangible assets, 9th in high-tech manufacturing, and 18th in cultural and creative exports, with a 21.4% increase in these sectors. It also ranks 9th in unicorn valuation at 5.04% of GDP.
India's ranking on the Global Innovation Index for 2023 demonstrates its dedication to innovation and its ambition to lead the world in using innovation to promote economic growth and self-sufficiency.
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